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ICAI AASB · Section 143(10) Companies Act 2013

Standards on Auditing.

The 27 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.

General

3 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 230
Audit Documentation
The file you can defend. What goes in, what doesn't, who can read it years later.
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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

4 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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Audit Evidence

8 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 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 530
Audit Sampling
Statistical and non-statistical sampling — selection, evaluation, projection of misstatements.
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SA 540
Auditing Accounting Estimates (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 (Revised)
Group audits — relationship with component auditors and consolidated FS.
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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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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

4 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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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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