ICAI issued Revised Implementation Guide to Standard on Auditing (SA) 230 Audit Documentation

The Institute of Chartered Accountants of India (ICAI) has issued a revised Implementation Guide to the Standard on Auditing (SA) 230 Audit Documentation – December 2022 Edition.

The Auditing and Assurance Standards Board (AASB) is a non-standing Committee of the Institute of Chartered Accountants of India (ICAI). The main objective of AASB is formulating Engagement and Quality Control Standards (standards on auditing, review, other assurance, quality control and related services). The Board also formulates Guidance Notes on generic as well as industry specific issues in auditing, Technical Guides, Implementation Guides and other publications for guidance of the members. The Board organizes regular awareness programmes on auditing standards, reporting requirements of Companies Act, 2013 and other auditing aspects to update knowledge of the members.

Implementation Guides to Standards on Auditing are an important resource for auditors in applying the principles of these Standards in real life audit scenarios.

Standard on Auditing (SA) 230, “Audit Documentation” prescribes the basic principles of audit documentation. These principles need to be followed by auditors while complying with requirements of SA 230 and specific documentation requirements of other Standards on Auditing.

• Chapter 1: Summary of the Standard
• Chapter 2: Introduction
• Chapter 3: FAQs on SA 230
• Chapter 4: Checklist
• Appendix: Illustrative Working Paper Format