The Institute of Chartered Accountants of India(ICAI) has issued Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised).
Reetu | Jul 13, 2023 |
ICAI releases Exposure Drafts of SQM 1, SQM 2, Revised SA 220, 250, 315, 540 and Revised SRS 4400
The Institute of Chartered Accountants of India(ICAI) has issued Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised).
Auditing and Assurance Standards Board of ICAI notifies this Exposure Drafts of following Engagement and Quality Control Standards for public comments.
| S. No. | Particulars | Link for download |
| 1 | SQM 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements | Click here to download |
| 2 | SQM 2, Engagement Quality Reviews | Click here to download |
| 3 | SA 220(Revised), Quality Management for an Audit of Financial Statements | Click here to download |
| 4 | SA 250(Revised), Consideration of Laws and Regulations in an Audit of Financial Statements | Click here to download |
| 5 | SA 315(Revised), Identifying and Assessing the Risks of Material Misstatement | Click here to download |
| 6 | SA 540(Revised), Auditing Accounting Estimates and Related Disclosures | Click here to download |
| 7 | SRS 4400(Revised), Agreed-Upon Procedures Engagements | Click here to download |
| 8 | Conforming Amendments to Other Standards arising from SQM 1, SQM 2 and SA 220(Revised) | Click here to download |
| 9 | Conforming Amendments to Other Standards arising from SA 250(Revised) | Click here to download |
| 10 | Conforming Amendments to Other Standards arising from SA 315(Revised) | Click here to download |
| 11 | Conforming Amendments to Other Standards arising from SA 540(Revised) | Click here to download |
AASB invites comments from various stakeholders on above mentioned exposure drafts.
Comments are most helpful if they indicate the specific paragraph(s) to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
Comments on abovementioned exposure drafts may be submitted through any of the following modes.
1. Email: [email protected]
2. Postal:
Secretary, Auditing and Assurance Standards Board
The Institute of Chartered Accountants of India
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi- 110002
Last date for submitting comments is 25th August 2023.
In case of any Doubt regarding Membership you can mail us at [email protected]
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