91 before effective

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2014 EFFECTIVE DATE OF SA 500 IS on or after January 1, 1989 THEN MY DOUBT IS WHAT WAS HAPPENED BEFORE THAT DATE

Amol S Joglekar

Amol S Joglekar (Expert)
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05 June 2014 earlier standards were in vogue before that....

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2014 SORRY NOT UNDERSTOOD

Amol S Joglekar

Amol S Joglekar (Expert)
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05 June 2014 audit is a time old subjet. It has undergone changes with the passage of time. Some other standards were in vogue in earlier stages..

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 June 2014 before that there were no prescribed auditing standards.

please refer http://www.icai.org/new_post.html?post_id=2437&c_id=374 for the history of Auditing Standards in India.

It was only in 1982 that the committee for promulgation of auditing practices.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 June 2014 there were no such standard before that date.

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 U MEAN AUDITOR RESPONSIBILITY WAS NIL ABOUT THAT

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 June 2014 it means that before this date the auditor's responsibility was not codified till that date. But companies Act 1956 did provide for what auditor is supposed to do.

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