CAN ANY ONE EXPLAIN THE VARIOUS TERMINOIES USED IN AUDITING STANDARDS WITH EXAMPLES.[SA 200 AND 700]
1. FRAMEWORK
2. APPLICABLE FINANCIAL REPORTING FRAMEWORK
3.COMPLAINCE FRAMEWORK
4.FAIR PRESENTATION FRAMEWORK
5. GENERAL AND SPECIAL PURPOSE FINANCIAL STATEMENTS
The term "Framework" in the Auditing Standard refers to the guidelines issued under various laws. Financial reporting framework is suggested in the Companies Act, 2013 in Schedule III. The compliance framework may refer to various legal requirement applicable to the entity
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