Who mandates auditing and assurance standards?

Just as Accounting standards have been made mandatory by companies act - section 211, have the auditing and assurance standards also been made mandatory? Or, then how are they enforced like the accounting standards?

Moreover, has there been any recent revision in the "auditing and assurance standards"? Check this link https://www.icai.org/new_post.html?post_id=450&c_id=141 - it mentions some "clarity project"..

Now check the attached file. Are the link and file in conformity? Pl guide.. and this time, someone please answer!!

:/ ... Actually, I need to throw a presentation on Auditing standards, and don't have a friggin clue. All I could come across was this material but there appears to be some variation. Kindly suggest!

Thnx - Sid

Attached File : 218402 1096027 auditing standards in india.pdf downloaded: 167 times

auditing standards are not being mandated by any law such as Co's Act. However the ICAI has mandated that that when the members perfomr their attest function they should follow the procedures laid down in the Standards on auditing. for instance when an auditor has to make an reference to an expert such as in case of say acturial valuation, he has to follow the procedures laid down in SA Using the work of Auditors Expert. Also while drafting his audit report he has to follow th eprocedures laid down in SA 700-Forming an Audit Opinion.

So the ICAI is the governing authority whihc makes it mandatory for the members to follow the SA.

Also please note that the file whihc you have attached is not the latest file. the nomenclature of the Auditng Standards is now being changed to SA(Standards on Auditing). Please refer the following links for our information.

https://220.227.161.86/19380sm_aape_finalnew_appendix_1.pdf

https://220.227.161.86/19381sm_aape_finalnew_appendix_2.pdf

https://220.227.161.86/19382sm_aape_finalnew_appendix_gn.pdf