CA, CS, CMA : The standards explain how written representations and external confirmations help auditors obtain reliable evidence and support au...
CA, CS, CMA : Explore the ethical issues in auditing, their consequences, and strategies for maintaining integrity. Understand how ethical stand...
CA, CS, CMA : Learn how to set audit materiality, performance materiality, and determine sample sizes using Excel. Enhance audit accuracy and co...
Company Law : Coffee Day Enterprises Limited (CDEL) operates in various sectors, including coffee retailing, logistics, financial services, and...
CA, CS, CMA : SAS 500 is the fifth of the 16 SAS, which will become effective once posted by ICAI SRO i.e ISAI. The prime objective is to drasti...
Corporate Law : NFRA recommends 40 Auditing Standards for LLPs under the LLP (Amendment) Act 2021, effective from April 2026, for approval by the ...
CA, CS, CMA : Framework for Social Audit Standards defines and describes the elements and objectives of a social audit performed by social audit...
CA, CS, CMA : ICSI Social Audit Standard – 16 (ICSI SAS-16) aims to aid the Social Auditors with necessary instructions or guidelines for the ...
CA, CS, CMA : ICSI Social Audit Standard – 15 (ICSI SAS-15) aims to aid the Social Auditors with necessary instructions or guidelines for the ...
CA, CS, CMA : ICSI Social Audit Standard – 14 (ICSI SAS-14) aims to aid the Social Auditors with necessary instructions or guidelines for the ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Company Law : Further deferral of SA 701 cannot be permitted and it remains applicable for audits of financial statements for periods beginning ...
SA 701 is applicable for audits of financial statements for periods beginning on or after April 01,2018 for audits of complete sets of general purpose financial statements of listed entities. It casts a new reporting requirement on auditors of listed entities to communicate the key audit matters in their audit reports.
Implementation Guide to Standard on Auditing (SA) 230, Audit Documentation (Revised 2018) The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New Delhi Foreword Standards on Auditing are critical in ensuring and enhancing quality in audits of financial statements. It is therefore necessary that the auditors properly understand and implement […]
Exposure Draft of Standard on Auditing for Audits of Smaller and Less Complex Entities (SASE) 200- Last date for comments: January 17, 2019- Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing for Audits of Smaller and Less Complex Entities
CA Amogh Dongshanwar Introduction and meaning of Key Audit Matter With the introduction of new Standard on Auditing – SA 701 by Institute of Chartered Accountants of India (ICAI), the members of the ICAI have been entrusted with the new responsibility along with opining on the financial statements, to communicate the key audit matters (KAM) […]
This Article explains Standard on Auditing (SA) which are applicable for Audit of Financial Year 2017-18 and Financial year 2018-19.
To clarify the implementation issues, the Auditing and Assurance Standards Board of ICAI, hereby issues the following FAQs on SA 570(Revised) based on the queries received from the members:
Planning the Internal Audit Assignment involves the following key elements:(a) It is a sub-set of the Overall Internal Audit Plan;(b) It is undertaken prior to the beginning of a particular assignment during the course of the plan period;
The objectives of an Overall Internal Audit (Engagement) Plan are to:(a) ensure that the planned internal audits are in line with the objectives of the internal audit function (and terms of engagement, where it is an outsourced engagement), as per the internal audit charter of the entity and also in line with the overall objectives of the organisation;
IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Evidence. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording.
IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Documentation. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording.
