What you must tell the audit committee / board — and when.
To establish two-way communication with TCWG and communicate on a timely basis: auditor's responsibilities, planned scope, significant findings, and auditor's independence.
SA 260 sits in the Concluding phase of the audit. The Standards on Auditing are issued by the ICAI Auditing and Assurance Standards Board (AASB) and deemed to be prescribed by the Central Government under Section 143(10) of the Companies Act 2013. Compliance with SAs is mandatory for every audit conducted by a Chartered Accountant in India.
For authoritative text, refer to the ICAI AASB Compendium of Standards on Auditing at icai.org.
Editable, letterhead-ready formats that put SA 260 into practice — built from the ICAI working-paper set, free to download.
And when you want SA 260 executed and documented automatically — your first audit on CORAA is free.
SA 260 — Communication with Those Charged with Governance — is a Standard on Auditing issued by the ICAI Auditing and Assurance Standards Board. What you must tell the audit committee / board — and when. To establish two-way communication with TCWG and communicate on a timely basis: auditor's responsibilities, planned scope, significant findings, and auditor's independence.
Yes. Standards on Auditing are deemed to be prescribed under Section 143(10) of the Companies Act 2013, and ICAI members must comply with them in every audit of historical financial information. Non-compliance must be justified and can attract professional consequences in peer review, NFRA inspection, and disciplinary proceedings.
Documentation sufficient for an experienced auditor with no previous connection to the audit to understand what was done and why (SA 230). For SA 260 in the concluding phase, that means evidencing: At planning: scope and timing; At conclusion: significant findings, qualitative aspects of accounting practices, material weaknesses; Independence: written confirmation at least annually.
