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Standard on Auditing (SA)

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Materiality in Auditing: Meaning, Benchmarks & Practical Use

CA, CS, CMA : This explains what materiality means in an audit and why it matters for financial decision-making. The key takeaway is that materi...

January 6, 2026 1965 Views 0 comment Print

Decoding Related Party Risks under SA-550: an Auditor’s Perspective

CA, CS, CMA : This case explains why related party transactions require heightened audit scrutiny under SA-550. The key takeaway is that influen...

December 20, 2025 1692 Views 0 comment Print

Understanding an Audit

CA, CS, CMA : Auditing is a regulated process culminating in an opinion on whether financial statements are True and Fair. It requires professio...

October 24, 2025 918 Views 0 comment Print

Auditing Fundamentals: Internal, Statutory & Operational Checks

CA, CS, CMA : Explore auditing essentials covering internal and statutory audits, detailed checks for cash, bank, purchases, sales, inventory, a...

May 29, 2025 1191 Views 0 comment Print

How Standards on Auditing and Ethics Reduce NFRA Penalties

CA, CS, CMA : CA. Shreyas Dharkar How Standards on Auditing, Guidance Notes, and Code of Ethics Collaboratively Reduce Punishments Imposed by NF...

April 27, 2025 1590 Views 0 comment Print


Latest News


ICAI raises Concerns on SA 600 Revision Process

CA, CS, CMA : ICAI raises concerns about SA 600 vs. ISA 600 revision process, urges pause for stakeholder review to ensure public interest and p...

September 20, 2024 1389 Views 0 comment Print

Proposed Revision of SA 600 for Public Comments: Group Audits

CA, CS, CMA : CCI introduces General Regulations 2024, revising the 2009 rules. Key changes address stakeholder concerns on applications, submis...

September 18, 2024 3891 Views 0 comment Print

Exposure Draft: Standard on Auditing for Less Complex Entities (SA for LCE)

CA, CS, CMA : ICAIs Auditing and Assurance Standards Board releases an Exposure Draft for audits of less complex entities. Comments invited unti...

July 28, 2024 1224 Views 0 comment Print

ICAI Issues Revised Auditing Standards: SA 800, SA 805, SA 810 (2024)

CA, CS, CMA : Stay updated with the latest revisions in auditing standards by ICAI. Download SA 800, SA 805, SA 810 for audits starting April 20...

February 8, 2024 4584 Views 0 comment Print

ICAI’s revised SA-810-Engagements to Report on Summary Financial Statements

CA, CS, CMA : Auditors must have understanding of standards for reporting on ICAI's revised summary financial statements. Get informed on new re...

February 8, 2024 2091 Views 0 comment Print


Latest Notifications


NFRA Penalizes CA for failure to meet requirements of Standards on Auditing

Company Law : NFRA penalizes CA Santosh Deshmukh ₹5L & 1-year debarment for audit lapses in Sanwaria Consumer Ltd's FY 2017-18 audit. Key audi...

September 9, 2024 10365 Views 0 comment Print

NFRA penalises & debarred CA for Audit failures in violation of law & SA

Company Law : NFRA imposes penalty of Two Lakhs on CA Hemant Khator Swami who was  Engagement Partner for the statutory audit of Women Next Lou...

April 28, 2023 3231 Views 0 comment Print

NFRA penalises and debarred CA for Audit failures

Company Law : NFRA imposes penalty of Two Lakhs on CA Narayan Prasad Swami who was  Engagement Partner for the statutory audit of Women Next Lo...

April 28, 2023 4707 Views 0 comment Print

NFRA imposes 1 Crore Penalty on CA Firm & 5 Lakh on Partner

Company Law : NFRA’s investigations inter alia revealed that the TDL’s Auditors for the FY 2018-19, had failed to meet the relevant ...

April 26, 2023 35946 Views 1 comment Print

NFRA penalises Statutory Auditor of Brach of DHFL for accepting legally invalid appointment

Company Law : NFRA’s investigations revealed that the appointment of none of the 33 branch auditors was approved at the Annual General Mee...

April 13, 2023 5043 Views 0 comment Print


Draft SA 501 Audit Evidence -Specific Considerations for Selected Items

November 25, 2023 7746 Views 0 comment Print

Explore the nuances of SA 501 Audit Evidence, covering inventory assessment, litigation and claims analysis, and segment information disclosure. Learn effective audit procedures and requirements for a thorough financial statement audit

Exposure Draft Standard on Auditing 500 Audit Evidence

November 25, 2023 765 Views 0 comment Print

Dive into the details of Standard on Auditing 500 (SA 500) – Audit Evidence. Learn its scope, objectives, definitions, and requirements. Enhance your auditing knowledge

Draft SA 450 Evaluation of Misstatements Identified during Audit

November 25, 2023 2442 Views 0 comment Print

Understand Standard on Auditing (SA) 450, focusing on misstatement evaluation, communication, and correction. Learn the impact on financial statements and governance.

Draft SA 402 Audit Considerations Relating to an Entity Using a Service Organisation

November 25, 2023 7785 Views 0 comment Print

Explore SA 402 s role in user auditors obtaining audit evidence when entities use service organisations. Learn risk assessment, tests of controls, and reporting

Exposure Draft of SA 330: Auditor’s Responses to Assessed Risks

November 25, 2023 1764 Views 0 comment Print

Explore SA 330, revealing the auditors role in designing responses to material misstatement risks. Learn about audit procedures, controls, and evidence evaluation

Exposure Draft of SA 320: Materiality in Planning & Performing an Audit

November 25, 2023 3417 Views 0 comment Print

Explore the significance of materiality in auditing with SA 320. Understand its application in risk assessment, performance, and revision during audit progress

Draft of SA 315, Identifying & Assessing Risks of Material Misstatement through Understanding the Entity and Its Environment

November 25, 2023 1971 Views 0 comment Print

Explore Standard on Auditing 315 Identifying Risks of Material Misstatement. Learn effective risk assessment procedures, internal control evaluation, and more

Draft SA 299 Joint Audit of Financial Statements

November 25, 2023 1443 Views 0 comment Print

Explore the principles, planning strategies, and reporting guidelines for effective joint audits of financial statements. Understand the responsibilities and coordination among joint auditors

Draft SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance & Management

November 25, 2023 3231 Views 0 comment Print

Explore SA 265, guiding auditors on communication of internal control deficiencies. Learn about the requirements, objectives, and application for effective audit practices

Draft SA 260 Revised Communication with Those Charged with Governance

November 25, 2023 2277 Views 0 comment Print

Explore the essential Standard on Auditing (SA) that outlines the auditor’s responsibilities in financial statement audits, emphasizing effective communication with governance. Learn about planned audit scope, significant findings, and the importance of two-way communication. Stay informed on key audit communication requirements

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