The ICAI’s Guidance Notes on Accounting/ Auditing Aspects are intended to provide members with guidance on matters that may arise in the course of their professional work and on which they may desire assistance in resolving issues that may pose difficulty.
Guidance Notes are generally advisory in nature. A member should normally follow recommendations in a guidance note relating to an auditing matter, unless he is satisfied that it is not necessary in the circumstances of the case.
Similarly, a member should investigate whether or not the recommendations in a guidance note relating to an accounting matter were followed while performing his attest function. If these procedures are not followed, the member should consider whether a disclosure in his report is necessary given the facts of the case.
However, the Council has specifically stated that a few guidance notes should be considered mandatory on members while performing their attest function.
ICAI’s Guidance Notes on Accounting Aspects
- Guidance Note on Accounting for Derivative Contracts (Revised 2021)
- Guidance Note on Accrual Basis of Accounting
- Guidance Note on Accounting by E-commerce Entities
- Guidance Note on Applicability of AS 25 and Measurement of Income Tax Expense for Interim Financial Reporting (Revised 2020)
- Guidance Note on Accounting for Share-based Payments (Revised 2020)
- Guidance Note on Accounting for Oil and Gas Producing Activities (Ind AS)
- Guidance Note on Combined and Carve–Out Financial Statements
- Guidance Note on Accounting for Depreciation in companies in the context of Schedule II to the Companies Act, 2013
- Guidance Note on Accounting for Expenditure on Corporate Social Responsibility Activities (Issued May 15, 2015)
- Guidance Note on Accounting for Oil and Gas Producing Activities (revised 2013)
- Guidance Note on Accounting for Corporate Dividend Tax
- Guidance Note on Accounting Treatment for Excise Duty
- Guidance Note on Accounting for State-level Value Added Tax
- Guidance Note on Accounting by Schools
- Guidance Note on Accounting for Credit Available in Respect of Minimum Alternative Tax under the Income-tax Act, 1961
- Guidance Note on Accounting for Real Estate Transactions (Revised 2012)
- Guidance Note on Accounting Treatment for MODVAT/CENVAT
- Guidance Note on Turnover in case of Contractors
- Guidance Note on Accounting for Rate Regulated Activities
- Guidance Note on Accounting for Self-generated Certified Emission Reductions (CERs) (Issued 2012)
- Guidance Note on Accounting and Auditing of Political Parties
ICAI’s Guidance Notes on Auditing Aspects
- Guidance Note on the Companies (Auditor’s Report) Order, 2020
- Guidance Note on Audit of Consolidated Financial Statements (Revised 2016)
- Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)
- Guidance Note on Reports in Company Prospectuses (Revised 2019)
- Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
- Revised Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013
- Guidance Note on Reporting under Section 143 (3)(f) and (h) of the Companies Act, 2013
- Guidance Note on the Companies (Auditor’s Report) Order, 2016
- Audit of Property, Plant and Equipment
- Audit of Accounts of Non-Corporate Entities (Bank Borrowers)
- Audit of Cash and Bank Balances
- Audit of Debtors, Loans and Advances
- Audit of Expenses
- Audit of Inventories
- Audit of Investments
- Audit of Liabilities
- Audit of Miscellaneous Expenditure (Revised)
- Audit of Payment of Dividend
- Audit of Revenue
- Capital and Reserves
- Certificate on Corporate Governance (Revised)
- Computer Assisted Audit Techniques (CAATs)
- Duty Cast on the Auditors under Section 45-MA of the Reserve Bank of India Act, 1934
- Independence of Auditors (Revised)
- Preparation of Financial Statements on Letterheads and Stationery of Auditors
- Industry Specific Guidance Notes
- ICAI’s Revised Guidance Note on Bank/ Branch Audit 2024
- Guidance Note on Tax Audit (2022 Edition)
- Audit of Accounts of Members of Stock Exchanges (Revised)
- Audit of Companies Carrying on General Insurance Business
- Audit of Companies Carrying on Life Insurance Business
- Guidance Notes Based on Provisions of Companies Act, 1956
- Provision for Proposed Dividend
- Section 293 A of the Companies Act and the Auditor
- Section 227(3) (e) and (f) of the Companies Act, 1956 (Revised)
- Auditing of Accounts of Liquidators
- Certificate to be Issued by the Auditor of a Company Pursuant to Companies (Acceptance of Deposits) Rules, 1975
- Certification of Documents for Registration of Charges
- Certification of XBRL Financial Statements