IMPORTANT ANNOUNCEMENT (STANDARDS ON AUDITING)

The following list contains the details of the erstwhile Auditing and Assurance Standards (AASs) along with the respective numbers, title of the Standard and the new number and name of the corresponding Standards on Auditing (SAs). For the purposes of June, 2009 examinations the students are advised to refer to the AAS number along with the corresponding number of the new Standard on Auditing (SA).

The details of the AASs revised as Standards on Auditing (SAs) along with the corresponding new numbers are being hosted for the guidance of the students.

Further, the full text of the erstwhile AASs revised as SAs are also attached for the guidance of the students.

Erstwhile AAS Number	Title of the Standard	New Number and Name of the Standard
1	Basic Principles Governing an Audit	SA 200
2	Objectives and Scope of the Audit of Financial Statements	SA 200 A
3	Documentation	SA 230* (Audit Documentation)
4	The Auditor’s Responsibility to Consider Fraud and Error in an Audit of Financial Statements	SA 240*
5	Audit Evidence	SA 500
6	Risk Assessments and Internal Control	SA 400
7	Relying Upon the Work of an Internal Auditor	SA 610
8	Audit Planning	SA 300* (Planning and Audit of Financial Statements)
9	Using the Work of an Expert	SA 620
10	Using the Work of Another Auditor	SA 600
11	Representations by Management	SA 580* (Written Representations)
12	Responsibility of Joint Auditors	SA 299
13	Audit Materiality	SA 320
14	Analytical Procedures	SA 520
15	Audit Sampling	SA 530*
16	Going Concern	SA 570*
17	Quality Control for Audit Work	SA 220
18	Auditing of Accounting Estimates	SA 540* (Auditing of Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures)
19	Subsequent Events	SA 560*
20	Knowledge of the Business	SA 310
21	Consideration of Laws and Regulations in an Audit of Financial Statements	SA 250*
22	Initial Engagements – Opening Balances	SA 510*
23	Related Parties	SA 550*
24	Audit Considerations Relating to Entities Using Service Organisations	SA 402
25	Comparatives	SA 710
26	Terms of Audit Engagement	SA 210
27	Communication of Audit Matters with Those Charged with Governance	SA 260*
28	The Auditor’s Report on Financial Statements	SA 700
29	Audit in a Computer Information Systems Environment	SA 401
30	External Confirmations	SA 505
31	Engagements to Compile Financial Information	SRS 4410
32	Engagements to Perform Agreed – upon Procedures Regarding Financial Information	SRS 4400
33	Engagements to Review Financial Statements	SRE 2400
34	Audit Evidence – Additional Considerations for Specific Items	SA 501
35	The Examination of Prospective Financial Information	SAE 3400