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Auditing and Assurance Standards Board The Institute of Chartered Accountants of India 11th July, 2023 Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised) The Auditing and Assurance Standards Board (AASB) of ICAI has issued the Exposure Drafts of following Engagement and Quality Control Standards for public comments: S. No. Particulars Link for download 1 SQM 1, Quality Man
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FAQ :
The Auditing and Assurance Standards Board (AASB) of the ICAI has released Exposure Drafts of several Engagement and Quality Control Standards for public comments.
The Exposure Drafts cover SQM 1 (Quality Management for Firms), SQM 2 (Engagement Quality Reviews), revised SA 220 (Quality Management for an Audit), SA 250 (Consideration of Laws and Regulations), SA 315 (Identifying and Assessing Risks), SA 540 (Auditing Accounting Estimates), and revised SRS 4400 (Agreed-Upon Procedures Engagements).
Yes, there are also conforming amendments to other standards arising from the revisions to SQM 1, SQM 2, SA 220, SA 250, SA 315, and SA 540.
Comments are invited from various stakeholders, including professionals and the public.
The last date for submitting comments on these exposure drafts is 25th August 2023.
Comments can be submitted via email to aasb@icai.in or by post to the Secretary, Auditing and Assurance Standards Board, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi- 110002.
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