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NEW AAS( SA) ??? CONFUSION

CA Abdul Halim Siddiqui (Partner) (481 Points)

16 October 2009

DEAR COLLEAGUES,

1) WHAT ARE STANDARD ON AUDITING(SA)???

2) IN WHAT WAY THEY DIFFER FROM AAS?

3) WHAT IF WE GIVE REF TO AAS IN EXAM INSTEAD OF NEW SA NUMBER?

REPLY URGENTLY

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19 Replies

Siddharth (Get Digital Signature Certificates (DSC) in 30 minutes! Click on send PM!) (672 Points)
Replied 16 October 2009

Please refer to -

https://www.icai.org/post.html?post_id=5066&c_id=219

Some of the standards as per AAS have been removed and some new added, different naming, so you need to check, here -

https://www.icai.org/post.html?post_id=450&c_id=141

If you have earlier read AASs, you can just read SA for revision, and remembering numbers isn't much of a big deal.. As ICAI has clearly notified this, I don't think you'll get any marks for mentioning AAS.

In my opinion, SAs are more scientific and makes sense with the proper ordering sequence.. first you know general principles (200-299), then assess risks (300-499), then collect audit evidences (500-599), use work of others (600-699), and finally conclude and report (700-799)

https://www.icai.org/post.html?post_id=450&c_id=141

Categorise in heads, then numbers then main words

eg. 200, 200A, 10, 20, 30, 40, 50, 60, 99 -

basic, objective, terms, quality, document, responsibility, law, governance, joint

BOTQDRLGJ (coin a sentence from these letters)

Easy.. :) Just understand the matter now. Similarly make chains for other SAs.. it's fun... :)

For further ease, you might want to buy some reference book with updates (Eg. Surbhi Bansal), else download the SAs from icai.org

1 Like

Vikram M. (Unemployed) (504 Points)
Replied 16 October 2009

As Siddharth rightly points out, the change is mostly in regard of the numbers. The content remains largely the same. And yes, Surbhi Bansal's SA amendment notes would be helpful in adapting to these changes quickly.

Amit Ingale (Student CA Final) (1454 Points)
Replied 17 October 2009

Originally posted by :Aditya M.
"	As Siddharth rightly points out, the change is mostly in regard of the numbers. The content remains largely the same. And yes, Surbhi Bansal's SA amendment notes would be helpful in adapting to these changes quickly.	"

Hey ! aditya can you provide me Surbhi Bansal's SA amendment notes in computer format ?

please.

CA HARISH KUMAR (ACA, B.Com(Hons.)) (80 Points)
Replied 17 October 2009

There is no big differnec in content. Numbers are changed. you will have to quote SAs no in exam.

Surbhi bansal's SA amendment notes wil be helpful. You can download it from www.brightprofessionals.com, click to the button Download PDF.

CA. Megha Topiwala (Job) (1534 Points)
Replied 17 October 2009

thnx very much....

(Guest)

Thanks Siddharth for Providing info. at a glance

Amit Ingale (Student CA Final) (1454 Points)
Replied 17 October 2009

Originally posted by :HARISH KUMAR
"	There is no big differnec in content. Numbers are changed. you will have to quote SAs no in exam. Surbhi bansal's SA amendment notes wil be helpful. You can download it from www.brightprofessionals.com, click to the button Download PDF.	"