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ICAI AASB · Section 143(10) Companies Act 2013

Standards on Auditing.

The 38 Standards on Auditing every Indian Chartered Accountant cites most often, organised by audit phase. Each SA has a dedicated page — objective, key requirements, typical procedures, common pitfalls, and the CORAA module that operationalises it.

Working on an internal audit instead? See the Standards on Internal Audit (SIA) list.

General

5 standards in general

SA 200
Overall Objectives of the Independent Auditor
The umbrella standard — the auditor's objectives, ethical requirements, and the conduct of an audit per the SAs.
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SA 210
Agreeing the Terms of Audit Engagements
The engagement letter — what it must cover, how it gets accepted, and when terms get changed.
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SA 220
Quality Management for an Audit of Financial Statements
The engagement partner's responsibility for quality at the level of the individual audit, within the firm's system of quality management. ICAI deferred the mandatory date of SQM 1 and SQM 2 on 31 March 2026 and SQC 1 continues to apply; confirm the status of SA 220 (Revised) on icai.org.
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SA 230
Audit Documentation
The file you can defend. What goes in, what doesn't, who can read it years later.
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SA 299
Responsibility of Joint Auditors
Joint audits in India: how the work is divided and where each joint auditor remains responsible.
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Planning

2 standards in planning

SA 300
Planning an Audit of Financial Statements
The strategy + the plan. Setting scope, timing and direction of the engagement.
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SA 320
Materiality in Planning and Performing an Audit
Setting overall materiality, performance materiality, and the threshold for clearly trivial misstatements.
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Risk Assessment

5 standards in risk assessment

SA 240
Auditor's Responsibilities Relating to Fraud
Identifying and responding to risks of material misstatement due to fraud.
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SA 250
Consideration of Laws and Regulations
Material non-compliance with laws and regulations and how to respond.
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SA 315
Identifying and Assessing Risks of Material Misstatement
Understanding the entity, its environment, the system of internal control — and the risks that result.
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SA 330
The Auditor's Responses to Assessed Risks
Designing audit procedures responsive to the assessed risks of material misstatement.
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SA 402
Audit Considerations Relating to an Entity Using a Service Organisation
What an auditor must do when the client's processing or controls sit with an outside service organisation such as a payroll processor or a shared services centre.
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Audit Evidence

11 standards in audit evidence

SA 500
Audit Evidence
The relevance and reliability of audit evidence — the bedrock standard for substantive testing.
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SA 501
Audit Evidence: Specific Considerations for Selected Items
Additional evidence requirements for inventory, litigation and claims, and segment information.
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SA 505
External Confirmations
Direct confirmations from third parties — design, sending, follow-up, evaluation.
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SA 510
Initial Audit Engagements — Opening Balances
Obtaining evidence on opening balances when this is the first year of the engagement.
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SA 520
Analytical Procedures
Using relationships between financial and non-financial data as audit evidence and as an overall review near the end of the audit.
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SA 530
Audit Sampling
Statistical and non-statistical sampling — selection, evaluation, projection of misstatements.
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SA 540
Auditing Accounting Estimates and Related Disclosures (Revised)
Estimates with significant measurement uncertainty — risk assessment and substantive procedures.
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SA 550
Related Parties
Identification and disclosure of related-party transactions and relationships.
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SA 600
Using the Work of Another Auditor
The principal auditor's use of another auditor's work on a division, branch, subsidiary or associate, and the resulting division of responsibility in the report.
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SA 610
Using the Work of Internal Auditors (Revised)
When and how the external auditor can rely on internal audit work.
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SA 620
Using the Work of an Auditor's Expert
When and how to use the work of a specialist, such as a valuer or an actuary, whom the auditor engages or employs.
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Concluding

6 standards in concluding

SA 260
Communication with Those Charged with Governance
What you must tell the audit committee / board — and when.
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SA 265
Communication of Internal Control Deficiencies
Reporting significant control deficiencies in writing to TCWG.
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SA 450
Evaluation of Misstatements Identified During the Audit
Aggregation, classification, communication and final evaluation of misstatements.
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SA 560
Subsequent Events
Events between the balance-sheet date and the date of the auditor's report.
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SA 570
Going Concern (Revised)
Assessing the entity's ability to continue as a going concern over the next 12 months.
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SA 580
Written Representations
The Management Representation Letter (MRL) — what to include, when to date, what it means.
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Reporting

9 standards in reporting

SA 700
Forming an Opinion and Reporting on FS (Revised)
The auditor's report — opinion language, structure, signing.
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SA 701
Communicating Key Audit Matters
KAMs in the audit report — what they are, what they aren't.
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SA 705
Modifications to the Opinion (Revised)
Qualified, Adverse, Disclaimer — when and how to modify.
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SA 706
Emphasis of Matter and Other Matter Paragraphs (Revised)
Drawing attention without modifying the opinion.
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SA 710
Comparative Information: Corresponding Figures and Comparative Financial Statements
How the auditor deals with the prior period figures presented alongside the current period.
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SA 720
The Auditor's Responsibilities Relating to Other Information
The documents that accompany the audited financial statements, such as the board's report, and what the auditor does with them.
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SA 800
Special Considerations: Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
Audits of financial statements prepared for a specific purpose, such as a cash basis, a tax basis or a contractual reporting framework.
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SA 805
Special Considerations: Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
Audits of one financial statement, or of a specific element such as receivables or a royalty computation, rather than a complete set.
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SA 810
Engagements to Report on Summary Financial Statements
Reporting on a summary of audited financial statements, such as the financial highlights in an annual report.
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SAs baked into the audit workflow.

CORAA operationalises SAs as code — SA 230 documentation as the audit trail, SA 240 journal-entry testing as the scrutiny engine, SA 320 materiality with the locked memo, SA 530 sampling with formula + seed printed per WP, SA 700 UDIN-gated sign-off.

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