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............................................................................................................................................... Description It is a lucid referencer of Engagement and Quality Control Standards to address the needs of a book for the students. This book contains the standards as per the revised classification effective Ist April 2008. Standards have been updated as per the announcement of the ICAI (14thDecember 2009) for the purpose of May 2010 examination. Nine Standards effective Ist April 2010, applicable for May 2010 examination have been updated. • Standards on Quality Control (SQC) • Standards on Auditing (SA) • Standards on Related Services (SRS) • Standards on Review Engagements (SRE) • Standards on Assurance Engagements (SAE) Coverage includes: • Key Terms • Flow Charts • Principles and disclosures • General Clarifications • Question Bank Thebook should create and sustain the reading interest of ahighlytechnical subject like Engagement and Quality Control Standards. ............................................................................................................................................... Contents 1. SQC 1 – Quality Control for Films that performsaudit and reviews of Historical Financial Information, and otherAssurance and related service Engagements 2. SA 200 Basic Principles Governing an Audit 3. SA 200A Objectives and Scope of the Audit of Financial Statements 4. SA 210 (R) Agreeing the Terms of Audit Engagements 5. SA 220 Quality Control for Audit Work 6. SA 230 (R) Audit Documentation 7. SA 240(R) The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements 8. SA 250 Consideration of Laws and Regulation in an Audit of Financial Statements 9. SA 260 (R) Communication with Those Charged with Governance 10. SA 265 Communicating Deficiencies in internal Control to Those Charged with Governance and Management 11. SA 299 Responsibility of Joint Auditors 12. SA 300 (R) Planning and Audit of Financial Statements 13. SA 315 Identifying and Assessing the Risks of Material Misstatements through Understanding the Entity and its Environment 14. SA 320 (R) Materiality in Planning and Performing an Audit 15. SA 330 The Auditor’s Response to Assessed Risks 16. SA 402 (R) Audit Considerations Relating to Entities Using Service Organizations 17. SA 450 Evaluation of Misstatements identified During the Audit 18. SA 500 (R) Audit Evidence 19. SA 501 Audit Evidence- Additional Considerations for Specific Items 20. SA 505 External Confirmation 21. SA 510 (R) Initial Audit Engagements – Opening Balances 22. SA 520 Analytical Procedures 23. SA 530 (R) Audit Sampling 24. SA 540 (R) Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures 25. SA 550 (R) Related Parties 26. SA 560 (R) Subsequent Events 27. SA 570 (R) Going Concern 28. SA 580 (R) Written Representations 29. SA 600 Using the Work of Another Auditor 30. SA 610 (R) Using the Work of Internal Auditors 31. SA 620 Using the work of and Expert 32. SA 700 The Auditor’s Report on Financial Statements 33. SA 710 Comparatives 34. SA 720 The Auditors Responsibility in Relation to other Information in Documents Containing Audited Financial Statements 35. SRE 2400 Engagements to Review Financial Statements 36. SAE 3400 The Examination of Prospective Financial Information 37. SRS 4400 Engagements to Perform Agreed – upon Procedures Regarding Financial Information 38. SR 4410 Engagements to Compile Financial Information General Classification Issued 39. General Classifications (GC) –AASB/2/2004 on SA 210 40. General Classifications (GC) – AASB/1/2004 on SA 620 Question Bank ............................................................................................................................................... Author's Details M. P. Vijay Kumar FCA, AICWA, FCS Lokesh Vasudevan ACA ...............................................................................................................................................
