Auditing & Assurance Standards Board
Chairman, Auditing & Assurance Standards Board
CA. (Dr.) Sanjeev Kumar Singhal
Phone: +91 9811565606
Mobile: +91 9811565606
E-mail: sanjeevsinghalca1997@gmail.com, sanjeev.singhal@srb.in
Objectives
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To review the existing and emerging auditing practices worldwide and identify areas in which Standards on Quality Control, Engagement Standards and Statements on Auditing need to be developed. |
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Members
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Knowledge Sharing
- Guidance Note on Audit of Banks (2022 Edition)
- Guidance Note on Audit of Banks 2021 edition
- Technical Guide on Revised Formats of Long Form Audit Report issued by the Auditing and Assurance Standards Board
- Technical Guide on Audit of Internal Financial Controls in Case of Public Sector Banks issued by the Auditing and Assurance Standards Board
- Review Engagements on Interim Financial Information in the Current Evolving Environment Due to COVID-19
- Multiple Choice Questions (MCQs) on Guidance Note on the Companies (Auditor’s Report) Order, 2020 issued by Auditing and Assurance Standards Board
- Guidance Note on the Companies (Auditor's Report) Order, 2020 issued by Auditing and Assurance Standards Board
- Multiple Choice Questions (MCQs) on Engagement and Quality Control Standards issued by Auditing and Assurance Standards Board
- Compendium of Auditing Guidance Issued by Auditing and Assurance Standards Board on Various Aspects amid COVID-19.
- Subsequent Events - Key Audit Considerations amid COVID-19
- Auditor’s Reporting - Key Audit Considerations amid COVID-19
- Physical Inventory Verification– Key Audit Considerations amid COVID-19
- Going Concern - Key Considerations for Auditors amid COVID-19
- Advisory for Statutory Bank Branch Auditors w.r.t. Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation.
- Addendum to Guidance Note on Audit of Banks, 2020 Edition issued by the Auditing and Assurance Standards Board
- Covid-19 Disruptions - ICAI Advisory on Accounting and Assurance related issues for F.Y - 2019-20
- Use of Electronic Signature for Signing Audit Reports and Certificates
- Corrigendum to Guidance note on Audit of Banks 2020 Edition issued by the Auditing and Assurance Standards Board
- Guidance Note on Audit of Banks 2020 edition
- Advisory on Exhibit B3 of SEBI’s Circular dated 29th March 2019 regarding Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity.
- Announcement on Applicability of “Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements” to Statutory Auditors of Listed Entities and their Material Subsidiaries
- Communication Received from RBI regarding a Write Up on typical reasons for divergence observed in asset classification (large accounts) by banks vis-à-vis the supervisory assessment made by RBI during supervisory cycle 2018-19 (F.Y. 2017-18)
- Advisory on Auditor’s Reporting on Section 197(16) of the Companies Act, 2013.
- Implementation Guide to SA 720(Revised), "The Auditor’s Responsibilities Relating to Other Information" issued by Auditing and Assurance Standards Board
- Implementation Guide to SA 570(Revised), "Going Concern" issued by Auditing and Assurance Standards Board
- Requirement to mention UDIN in all Reports and Certificates issued by Members of the ICAI
- Clarification on Auditor’s Certificate on Return of Deposits pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014
- Requirement of Mentioning UDIN while Signing Audit Reports
- Using Information Available at Information Utility (IU) Platform for External Confirmations
- Guidance Note on Reports In Company Prospectuses (Revised 2019) issued by the Auditing and Assurance Standards Board
- Revised Implementation Guide to SA 230, “Audit Documentation” issued by the Auditing and Assurance Standards Board
- Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements issued by the Auditing and Assurance Standards Board
- Withdrawal of the Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013
- Technical Guide on Audit of Urban Improvement Trusts and Development Authorities issued by the Auditing and Assurance Standards Board
- Implementation Guide to SA 610(Revised) issued by the Auditing and Assurance Standards Board
- FAQs on SA 570 (Revised), ‘Going Concern’ (Applicable for audits of financial year 2017-18)
- Implementation Guide on Reporting Standards (Revised SA 700, Revised SA 705 and Revised SA 706) issued by the Auditing and Assurance Standards Board
- Clarification on RBI Circular dated 7th February 2018 regarding Relief for MSME Borrowers registered under Goods and Services Tax (GST)
- Advisory for the Members regarding Allocation of Work among the Joint Auditors in case of Bank Audits.
- Implementation Guide to SA 701, "Communicating Key Audit Matters in the Independent Auditor’s Report" issued by the Auditing and Assurance Standards Board
- Revised Formats of Statutory Auditor’s Report for Urban Cooperative Banks
- Important Clarification on Amendment to Paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements
- Important Announcement on Revised Effective Date of SA 701 and Revised SAs 700, 705, 706
- Guidance Note on Audit of Consolidated Financial Statements (Revised 2016) issued by the Auditing and Assurance Standards Board
- Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by Auditing and Assurance Standards Board
- Clarification on the transitional time gap in the requirements relating to the engagement partner’s rotation under SQC 1 and the auditor’s rotation under the Companies Act, 2013
- Implementation Guide on Auditor’s Reports under Indian Accounting Standards for Transition Phase released by the Auditing and Assurance Standards Board
- Implementation Guide on Audit of Internal Financial Controls over Financial Reporting with Specific Reference to Smaller, Less Complex Companies released by the Auditing and Assurance Standards Board
- Guidance Note on the Companies (Auditor's Report) Order, 2016 issued by Auditing and Assurance Standards Board
- Revised Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013 released by Auditing and Assurance Standards Board
- Announcement regarding Manner of Signing of Certificates by Chartered Accountants
- Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by Auditing and Assurance Standards Board. - (14-09-2015)
- Auditor’s Report on Consolidated Financial Statements under the Companies Act, 2013
- AASB releases Guidance Note on Reporting under Section 143 (3)(f) and (h) of the Companies Act, 2013.
- AASB issues Clarification on Auditor's Report in Respect of Financial Statements of a Company for Accounting Years Beginning Before 1st April, 2014.
- AASB issues Guidance on Reporting under the Companies (Auditor’s Report) Order, 2015 (CARO, 2015) and Consequential Amendment to the Format of the Auditor’s Report of a Company.
- Announcement on CARO, 2003 and Additional Reporting under the Companies Act, 2013.
- AASB - Illustrative Audit Engagement Letter under Companies Act, 2013.
- AASB - Illustrative Auditor’s Report Formats under Companies Act, 2013.
- Announcement on Applicability of the Provisions of Section 143(12) of the Companies Act 2013 and the Related Rules to Periods beginning on or before 31st March 2014.
- Announcement on Applicability of Section 143(12) to Financial Years beginning on or after 1st April 2014.
- Announcement on Applicability of the Provisions of Section 143(3)(i) of the Companies Act 2013 and the Related Rules.
- Auditing & Assurance Standards Board-Announcement - Manner of Auditor's Reporting on RBI's Circular on Deferred Tax Liability on Special Reserve.
- Clarification on Applicability of the Companies Act, 2013 to Auditor's Report to FY 2014-15 and Onwards.
- Information regarding Audited/Unaudited Components - Manner of Disclosure in Principal Auditor's Report.
- Announcement: Important Amendments to Auditor’s Report Format.
- Applicability of SA 700, "Forming An Opinion and Reporting On Financial Statements", to Formats of Auditor's Reports Prescribed under Various Laws and/or Regulations
- Revised Announcement regarding Applicability of the Revised Audit Report Formats (including for bank/ bank branch audit reports) and Reporting in respect of Memorandum of Changes in Bank Branch Audit Reports
- Announcement regarding Auditor’s Reporting Responsibilities relating to Dismantling of IMTPIP by IRDA
- Announcement regarding Statutory Auditor’s Reporting Responsibilities in respect of Depositing of Cess pursuant to Clause 4(ix)(a) of the Companies (Auditor’s Report) Order, 2003 and Section 227(3)(g) of the Companies Act, 1956.
- Announcement Regarding Compliance with Paragraphs 61 and 62 of the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity'
- Manner Of Reporting by the Auditors On Prudential Regulatory Treatment Prescribed By RBI In Respect Of Pension And Gratuity Liability Of Public Sector Banks
- Announcement on – Requirement to mention the firm registration number allotted by ICAI in all reports issued, including certificates, by members of the ICAI
- Announcement on Amendment to SA 230- Retention Period for Engagement Documentation (Working Papers)
- Announcement on – Requirement to include the registration number of the firm as allotted by ICAI, in the audit reports signed by members of the ICAI
- AASB Meetings
- Engagement and Quality Control Standards - Complete Text
- Guidance Notes on Auditing Aspects
- Other Technical Literature on Auditing
- Exposure Drafts
- Publication of AASB
- Other Useful Information
- Browsing of Websites
- Archives
What's New
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- Auditing and Assurance Standards Board (AASB) of ICAI is organizing VCM on Ethics in Audit on 22nd June 2022 from 3 PM to 5 PM.
- Implementation Guide on Reporting under Rule 11(e) and Rule 11(f) of the Companies (Audit and Auditors) Rules, 2014 issued by the Auditing and Assurance Standards Board
- Auditing and Assurance Standards Board – Expert Panel for Addressing queries related to Statutory Audit pertaining to Auditing Aspects
- Announcement on Guidance Note on the Companies (Auditor’s Report) Order, 2020
- Guidance Note on Audit of Banks (2022 Edition)
- Implementation Guide to Standard on Auditing (SA) 210, "Agreeing the Terms of Audit Engagements"
- Implementation Guide to Standard on Auditing (SA) 560, "Subsequent Events"
- Auditing and Assurance Standards Board (AASB) of ICAI is organizing VCM on Ethics in Audit on 22nd June 2022 from 3 PM to 5 PM.
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Secretary to the Committee, CA. Megha Saxena
Contact us
Secretary, Auditing and Assurance Standards Board
The Institute of Chartered Accountants of India
ICAI Bhawan, Post Box No. 7100
Indraprastha Marg,
New Delhi-110002
India
Tel. +91 (11) 3011 0544
Email: aasb@icai.in
