ICAI’s Revised Standards on Auditing (SA 700, SA 701, SA 705, SA 706, SA 260 & SA 570)

New Revised Standards on Auditing (SA-700, SA-701, SA-705, SA-706, SA-260 & SA-570) released by ICAI [17 May 2016]

The ICAI. vide Announcement dt. 17 May 2016 has released various Revised/ New Standards on Auditing (i.e. SA 700, SA 701, SA 705, SA 706, SA 260 & SA 570), as under:

Revised SA 700, Forming an Opinion and Reporting on Financial Statements

New SA 701, Communicating Key Audit Matters in the Independent Auditor’s Report

Revised SA 705, Modifications to the Opinion in the Independent Auditor’s Report

Revised SA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report

Revised SA 260, Communication with Those Charged with Governance

Revised SA 570, Going Concern

It may be noted that ICAI had issued Exposure Drafts of above Revised Standards on Auditing on 3 Dec. 2015, for Comments from it’s Members latest by 18 Jan. 2016. After consideration of the suggestions/ comments received, the ICAI has issued the above standards.

Related Posts:

ICAI’s Implementation Guide for Revised SA 570 on Going Concern

ICAI’s FAQs on Revised “SA 570: Going Concern” Applicable for Audits of FY 2017-18

Applicability Date for Revised SA 700, SA 705, SA 706: ICAI Clarifications

ICAI’s Implementation Guide on SA-701 (Communicating Key Audit Matters in the Independent Auditor’s Report) dt. 18 Feb. 2018

One Response

  1. Naveen

Get ‘CA Club Updates’ Newsletter via Daily Email

Subscribe for our Newsletter ‘CA Club Updates’ delivered thru Google Feedburner Emails and join our community of 6000 plus subscribers. To join, please click on the ‘SUBSCRIBE’ link below:

SUBSCRIBE

Upon clicking the link, a pop-up window will open. Please fill up your email id and verification code therein. After that check your email and click the confirmation link sent by Feedburner Email subscription.

This one time process is to ensure that you don’t get emails without your own confirmation, i.e. someone else can’t register your email here. Besides, each Newsletter will include an ‘Unsubscribe’ link to maintain your freedom to discontinue getting emails anytime.