Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2016 – Intermediate (IPC) Examination
Paper 6: Auditing and Assurance I. Standards on Auditing (SAs) S.No SA Title of Standard on Auditing 1 SA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing 2 SA 210 Agreeing the Terms of Audit Engagements 3 SA 220 Quality Control for Audit of Financial Statements 4 SA 230 Audit Documentation 5 SA 240 The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements 6 SA 250 Consideration of Laws and Regulations in An Audit of Financial Statements 7 SA 260 Communication with Those Charged with Governance 8 SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management 9 SA 299 Responsibility of Joint Auditors 10 SA 300 Planning an Audit of Financial Statements 11 SA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment 12 SA 320 Materiality in Planning and Performing an Audit 13 SA 330 The Auditor’s Responses to Assessed Risks 14 SA 402 Audit Considerations Relating to an Entity Using a Service Organization 15 SA 450 Evaluation of Misstatements Identified during the Audits 16 SA 500 Audit Evidence 17 SA 501 Audit Evidence - Specific Considerations for Selected Items 18 SA 505 External Confirmations 19 SA 510 Initial Audit Engagements-Opening Balances 20 SA 520 Analytical Procedures 21 SA 530 Audit Sampling 22 SA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures 23 SA 550 Related Parties 24 SA 560 Subsequent Events 25 SA 570 Going Concern 26 SA 580 Written Representations 27 SA 600 Using the Work of Another Auditor 28 SA 610 Using the Work of Internal Auditors 29 SA 620 Using the Work of an Auditor’s Expert 30 SA 700 Forming an Opinion and Reporting on Financial Statements 31 SA 705 Modifications to the Opinion in the Independent Auditor’s Report 32 SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report 33 SA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements 34 SA 720 The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements
II. Statements Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143 (1) of the Companies Act, 2013). III. Guidance Notes 1. Guidance Note on Audit of Inventories. 2. Guidance Note on Audit of Debtors, Loans and Advances. 3. Guidance Note on Audit of Investments. 4. Guidance Note on Audit of Cash and Bank Balances. 5. Guidance Note on Audit of Liabilities. 6. Guidance Note on Audit of Revenue. 7. Guidance Note on Audit of Expenses. 8. Guidance Note on Reporting under section 143 (3) (f) and (h) of the Companies Act, 2013
IV Applicability of the Companies Act, 2013: (i) The relevant notified Sections of the Companies Act, 2013 and other legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities, cut-off date will be 30th April, 2016. (ii) Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs on 29th March, 2016 is applicable for November, 2016 Examination.
31 July 2016
Applicability of Standards/Guidance Notes/
Legislative Amendments etc. for November, 2016 – Final Examination
Paper 3: Advanced Auditing and Professional Ethics
I. Statements and Standards 1. Statement on Reporting under Section 227(1A) of the Companies Act, 1956(Section 143 (1) of the Companies Act, 2013). 2. Framework for Assurance Engagements.
II. Engagements and Quality Control Standards on Auditing
S.No SA Title of Standard on Auditing 1 SQC 1 Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements 2 SA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing 3 SA 210 Agreeing the Terms of Audit Engagements 4 SA 220 Quality Control for Audit of Financial Statements 5 SA 230 Audit Documentation 6 SA 240 The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements 7 SA 250 Consideration of Laws and Regulations in An Audit of Financial Statements 8 SA 260 Communication with Those Charged with Governance 9 SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management 10 SA 299 Responsibility of Joint Auditors 11 SA 300 Planning an Audit of Financial Statements 12 SA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment 13 SA 320 Materiality in Planning and Performing an Audit 14 SA 330 The Auditor’s Responses to Assessed Risks 15 SA 402 Audit Considerations Relating to an Entity Using a Service Organization 16 SA 450 Evaluation of Misstatements Identified during the Audits 17 SA 500 Audit Evidence 18 SA 501 Audit Evidence - Specific Considerations for Selected Items 19 SA 505 External Confirmations 20 SA 510 Initial Audit Engagements-Opening Balances 21 SA 520 Analytical Procedures 22 SA 530 Audit Sampling 23 SA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures 24 SA 550 Related Parties 25 SA 560 Subsequent Events 26 SA 570 Going Concern 27 SA 580 Written Representations 28 SA 600 Using the Work of Another Auditor 29 SA 610 Using the Work of Internal Auditors 30 SA 620 Using the Work of an Auditor’s Expert 31 SA 700 Forming an Opinion and Reporting on Financial Statements 32 SA 705 Modifications to the Opinion in the Independent Auditor’s Report 33 SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report 34 SA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements 35 SA 720 The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements 36 SA 800 Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Framework 37 SA 805 Special Considerations-Audits of Single Purpose Financial Statements and Specific Elements, Accounts or Items of a Financial Statement 38 SA 810 Engagements to Report on Summary Financial Statements 39 SRE 2400 Engagements to Review Financial Statements 40 SRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity 41 SAE 3400 The Examination of Prospective Financial Information 42 SAE 3402 Assurance Reports on Controls At a Service Organisation 43 SRS 4400 Engagements to Perform Agreed Upon Procedures Regarding Financial Information 44 SRS 4410 Engagements to Compile Financial Information
III. Guidance Notes and other publications 1. Code of Ethics 2. Guidance Note on Independence of Auditors. 3. Guidance Note on Audit Reports and Certificates for Special Purposes. 4. Guidance Note on Audit under Section 44AB of the Income-tax Act. 5. Guidance Note on Audit of Inventories. 6. Guidance Note on Audit of Debtors, Loans and Advances. 7. Guidance Note on Audit of Investments. 8. Guidance Note on Audit of Cash and Bank Balances. 9. Guidance Note on Audit of Liabilities. 10. Guidance Note on Audit of Revenue. 11. Guidance Note on Audit of Expenses. 12. Guidance Note on Reporting under section 143 (3) (f) and (h) of the Companies Act, 2013. 13. Guidance Note on Computer Assisted Audit Techniques (CAATs). 14. Guidance Note on Audit of Payment of Dividend. 15. Guidance Note on Audit of Capital and Reserves.
IV Applicability of the Companies Act, 2013: (i) The relevant notified Sections of the Companies Act, 2013 and other legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities, cut-off date will be 30th April, 2016. (ii) Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs on 29th March, 2016 is applicable for November, 2016 Examination.
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