Important Announcement - Standards on Auditing (SAs)

Important Announcement - Standards on Auditing (SAs)

The following list contains the details of the Standards on Auditing (SAs).  For the purpose of November, 2009 examinations the students are advised to refer to the Standards on Auditing (SAs).

The details of the Standards on Auditing (SAs) with full text are being hosted for the guidance of the students.

(For PCC & IPCC)

S.No.               Standards on Auditing and Number

1.             Basic Principles Governing an Audit (SA 200)

2.             Objectives and Scope of the Audit of Financial Statements (SA 200A)

3.             Terms of Audit Engagement (SA 210)

4.             Quality Control for Audit Work (SA 220)

5.             Audit Documentation (230)   (Revised)              

6.             The Auditor’s Responsibility to Consider Fraud and Error in an Audit of Financial Statements (SA 240) (Revised)              

7.             Consideration of Laws and Regulations in an Audit of Financial Statements (SA 250) (Revised)

8.             Communication of Audit Matters with Those Charged with Governance (SA 260) (Revised)

9.             Responsibility of Joint Auditors (SA 299)

10.          Planning an Audit of Financial Statements (300) (Revised)

 11.         Identifying and Assessing the Risk of Material Misstatement Through Understanding the

              Entity and its Environment (SA 315) (Newly issued)*

12.          Audit Materiality (SA  320)

13.          The Auditor’s Responses to Assessed Risks (SA 330) (Newly issued)*

14.          Audit Considerations Relating to Entities Using Service Organisations (SA 402)    

15.          Audit Evidence (SA 500) (Revised)

16.          Audit Evidence - Additional Considerations for Specific Items (SA 501)

17.          External Confirmations (SA 505)

18.          Initial Engagements – Opening Balances (SA 510)

19.          Analytical Procedures (SA 520)

20.          Audit Sampling (SA 530) (Revised)

21.          Auditing of Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures (SA 540) (Revised)

22.          Related Parties (SA 550)

23.          Subsequent Events (SA 560) (Revised)

24.          Going Concern (SA 570) (Revised)

25.          Written Representations (SA 580) (Revised)

26.          Using the Work of Another Auditor (SA 600)

27.          Relying Upon the Work of an Internal Auditor (SA 610)

28.          Using the Work of an Expert (SA 620)

29.          The Auditor's Report on Financial Statements (SA 700)

30.          Comparatives (SA 710)

(For PE – II)

S.No.               Standards on Auditing and Number

1.             Basic Principles Governing an Audit (SA 200)

2.             Objectives and Scope of the Audit of Financial Statements (SA 200A)

3.             Terms of Audit Engagement (SA 210)

4.             Quality Control for Audit Work (SA 220)

5.             Audit Documentation (230)   (Revised)              

6.             The Auditor’s Responsibility to Consider Fraud and Error in an Audit of Financial Statements (SA 240) (Revised)              

7.             Consideration of Laws and Regulations in an Audit of Financial Statements (SA 250) (Revised)

8.             Communication of Audit Matters with Those Charged with Governance (SA 260) (Revised)

9.             Responsibility of Joint Auditors (SA 299)

10.          Planning an Audit of Financial Statements (300) (Revised)

 11.         Identifying and Assessing the Risk of Material Misstatement Through Understanding the

              Entity and its Environment (SA 315) (Newly issued)*

12.          Audit Materiality (SA  320)

13.          The Auditor’s Responses to Assessed Risks (SA 330) (Newly issued)*

14.          Audit Considerations Relating to Entities Using Service Organisations (SA 402)    

15.          Audit Evidence (SA 500) (Revised)

16.          Audit Evidence - Additional Considerations for Specific Items (SA 501)

17.          External Confirmations (SA 505)

18.          Initial Engagements – Opening Balances (SA 510)

19.          Analytical Procedures (SA 520)

20.          Audit Sampling (SA 530) (Revised)

21.          Auditing of Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures (SA 540) (Revised)

22.          Related Parties (SA 550)

23.          Subsequent Events (SA 560) (Revised)

24.          Going Concern (SA 570) (Revised)

25.          Written Representations (SA 580) (Revised)

26.          Using the Work of Another Auditor (SA 600)

27.          Relying Upon the Work of an Internal Auditor (SA 610)

28.          Using the Work of an Expert (SA 620)

29.          The Auditor's Report on Financial Statements (SA 700)

( For Final – Old  and Final – New )

S.No.               Standards on Auditing and Number

1.             Basic Principles Governing an Audit (SA 200)

2.             Objectives and Scope of the Audit of Financial Statements (SA 200A)

3.             Terms of Audit Engagement (SA 210)

4.             Quality Control for Audit Work (SA 220)

5.             Audit Documentation (230)   (Revised)              

6.             The Auditor’s Responsibility to Consider Fraud and Error in an Audit of Financial Statements (SA 240) (Revised)              

7.             Consideration of Laws and Regulations in an Audit of Financial Statements (SA 250) (Revised)

8.             Communication of Audit Matters with Those Charged with Governance (SA 260) (Revised)

9.             Responsibility of Joint Auditors (SA 299)

10.          Planning an Audit of Financial Statements (300) (Revised)

 11.         Identifying and Assessing the Risk of Material Misstatement Through Understanding the

              Entity and its Environment (SA 315) (Newly issued)*

12.          Audit Materiality (SA  320)

13.          The Auditor’s Responses to Assessed Risks (SA 330) (Newly issued)*

14.          Audit Considerations Relating to Entities Using Service Organisations (SA 402)    

15.          Audit Evidence (SA 500) (Revised)

16.          Audit Evidence - Additional Considerations for Specific Items (SA 501)

17.          External Confirmations (SA 505)

18.          Initial Engagements – Opening Balances (SA 510)

19.          Analytical Procedures (SA 520)

20.          Audit Sampling (SA 530) (Revised)

21.          Auditing of Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures (SA 540) (Revised)

22.          Related Parties (SA 550)

23.          Subsequent Events (SA 560) (Revised)

24.          Going Concern (SA 570) (Revised)

25.          Written Representations (SA 580) (Revised)

26.          Using the Work of Another Auditor (SA 600)

27.          Relying Upon the Work of an Internal Auditor (SA 610)

28.          Using the Work of an Expert (SA 620)

29.          The Auditor's Report on Financial Statements (SA 700)

30.          Comparatives (SA 710)

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.          The Examination of Prospective Financial Information (SRE 3400)

*    SA 315 & SA 330 – become effective in April, 2008. For November 2009 Final (Old) Examination  34 standards on Auditing as given in the Annexure – I. The  Standard on Auditing (SA) 400, “Risk Assessments and Internal Control”, SA 310, “Knowledge of the Business”, and SA 401, “Auditing in a Computer Information Systems Environment”, issued in June 2002, April 2000 and January 2003, respectively, would  stand withdrawn.

Standards on Auditing

• 500
• Link 2 200SA-AAS01
• Link 3 200A(SA)-AAS2
• Link 4 210SA-AAS26
• Link 5 220SA-AAS17
• Link 7 SA 230-standard
• Link 9 240SA(REVISED)
• Link 11 SA 250-text
• Link 13 SA 260-text
• Link 14 299SA-AAS12
• Link 16 300SA(REVISED)
• Link 17 315SA
• Link 18 320SA-AAS13
• Link 19 330SA
• Link 20 402SA-AAS24
• Link 22 501SA-AAS34
• Link 23 505SA-AAS30
• Link 26 520SA-AAS14
• Link 28 530 text
• Link 30 540 text
• Link 31 550SA-AAS23
• Link 34 SA 560_Standard
• Link 36 SA 570-final standard
• Link 38 sa 580
• Link 39 600SA-AAS10
• Link 40 610SA-AAS7
• Link 41 620SA-AAS9
• Link 42 700SA-AAS28
• Link 43 710SA-AAS25
• Link 44 2400SRE-AAS33
• Link 45 3400SAE-AAS35
• Link 46 4400SRS-AAS32
• Link 47 4410SRS-AAS31
• SA 510