ICAI - Invitation of Comments on Exposure Drafts of FAIS

Last updated: 10 October 2020

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The Institute of Chartered Accountants of India (ICAI) has released several exposure drafts for new Forensic Accounting and Investigation Standards (FAIS). These include standards on engagement objectives, engaging with agencies, planning, evidence, work procedures, interviews, and review/supervision. The ICAI is now seeking comments from the public on these drafts. The deadline for submitting feedback is November 9, 2020.

The Institute of Chartered Accountants of India is inviting comments on Exposure Drafts of Forensic Accounting and Investigation Standards(FAIS) - 210, 240, 310, 320, 330, 340 and 350. Read the official announcement below:

Digital Accounting and Assurance Board
The Institute of Chartered Accountants of India
9th October, 2020

Announcement

Invitation of Comments on Exposure Drafts of Forensic Accounting and Investigation Standards(FAIS) - 210, 240, 310, 320, 330, 340 and 350

The Digital Accounting Assurance Board of The Institute of Chartered Accountants of India (ICAI) invites comments on the following exposure drafts of Forensic Accounting and Investigation Standards(FAIS):

Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Engagement Objectives - 210 (Click here to download)
Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) - Engaging with Agencies- 240 (Click here to download)
Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Planning the Assignment - 310 (Click here to download)
Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Evidence and Documentation - 320 (Click here to download)
Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Conducting Work Procedures - 330 (Click here to download)
Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Conducting Interviews - 340 (Click here to download)
Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Review and Supervision-350 (Click here to download)

Last Date for Submitting Comments is November 09, 2020 (Submission links given in above mentioned files and can be viewed after downloading the same)

FAQ :

The ICAI is inviting comments on exposure drafts of several Forensic Accounting and Investigation Standards (FAIS).

The drafts open for comment are FAIS - 210 (Engagement Objectives), 240 (Engaging with Agencies), 310 (Planning the Assignment), 320 (Evidence and Documentation), 330 (Conducting Work Procedures), 340 (Conducting Interviews), and 350 (Review and Supervision).

The Digital Accounting and Assurance Board of The Institute of Chartered Accountants of India (ICAI) is inviting comments.

The last date for submitting comments is November 09, 2020.

Submission links are provided within the downloadable files for each exposure draft.

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