November 2024: NFRA approved 40 revised standards — 38 exactly as ICAI recommended — aligned to the current international versions, recommended the IndSA name, and proposed effect from 1 April 2026, with the revised SA 600 scoped to public interest entities (excluding public-sector banks and PSUs).
December 2025: the ICAI Council approved its own SA 600 revisions for onward submission — the one standard where the institute and the regulator differed on scope and responsibility.
July 2026: MCA consultation is reported as advanced, but no notification has issued. The proposed effective date has passed; the extant SAs continue in force. When notification lands, watch three things: the final name, the effective date (audits of periods beginning on/after a fresh date is the likely shape), and whether SA 600’s PIE-scoping survived as proposed.
Track the primary sources: nfra.gov.in and the MCA notification stream. This page states the position as verified on 18 July 2026 and is refreshed on status changes.
Inventory your SA citations (report formats, engagement letters, file templates) so the rename is mechanical; map which group audits would fall inside the revised SA 600’s PIE scope; and keep signing under the extant SAs until the gazette says otherwise.
CORAA’s working papers cite the standards from one registry — when the rename lands, the fleet updates once — see AI working papers or start free: your first audit is on us.
No. As of July 2026 the Ministry of Corporate Affairs has not notified the revised standards, so the extant ICAI Standards on Auditing continue to govern every audit — including FY 2025-26 sign-offs this season. The proposed 1 April 2026 effective date passed without notification; treat any IndSA citation in a report today as premature.
The proposed new identity for India’s auditing standards: NFRA approved a set of 40 revised standards aligned to the current international (ISA) versions and recommended renaming them Indian Standards on Auditing — IndSAs — mirroring the Ind AS naming on the accounting side. Of the 40, 38 were accepted as ICAI recommended them; the group-audit standard (SA 600) was revised beyond ICAI’s version.
The revised SA 600. Under the extant standard the principal auditor may rely on component auditors and divide responsibility; the revision makes the group auditor ultimately responsible for the group opinion, with duties to evaluate component-auditor work and access their working papers. As proposed it applies to public interest entities excluding public-sector banks and PSUs. The rest of the package modernises risk identification, quality management interfaces and documentation to current ISA equivalents.
Auditing standards notified under Sec 143(10) of the Companies Act apply to company audits generally; the contested SA 600 revision carries its own PIE-scoping. Non-company engagements (firms, trusts, LLPs pending their own framework) follow ICAI’s standards as the professional benchmark — in practice the two texts are expected to stay aligned.
Three low-cost preparations: inventory every document that cites SA numbers (report formats, engagement letters, methodology, working-paper templates) so a rename is a find-and-replace, not a project; read the revised SA 600 against your group audits and map which engagements would fall in the PIE scope; and hold off on any IndSA citation until the MCA notification names the standards and their effective date.
