Nandhakumar & Sundaran
Chartered Accountants

By: Nandhakumar & Sundaran | December 05, 2018

ICAI has issued guidelines for auditors withdrawing from the audit work through mid-term resignation, which includes auditor’s responsibilities and professional obligations to be complied with, specially in the case of listed companies.

ICAI’s Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements

In 2018, there have been number of mid-term resignations by auditors particularly auditors of listed companies. The matter being a concern for various stakeholders, ICAI decided to examine the reasons and circumstances leading to resignation of auditors and a Group was constituted, which considered the matter and a need was felt to create further awareness among the members about the circumstances...

Category: ICAI 

Tags: Updates 

By: Nandhakumar & Sundaran | December 05, 2018

The ICAI has issued Exposure Draft of ‘Standard on Auditing for Audits of Smaller and Less Complex Entities (SASE) 200’ relating to “Overall Objectives of the Independent Auditor and the Conduct of an Audit” for comments/ suggestions, latest by 17 Jan. 2018, as under:

ICAI Announcement dt. 3 Dec. 2018

The comments may be sent via post to: The Secretary, Auditing and Assurance Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, A-29, Sector-62, NOIDA, Uttar Pradesh – 201 309 or thru email at: aasb@icai.in

It may be noted that the Auditing and Assurance Standards Board (AASB) of ICAI has decided to issue separate set of standards for audits of smaller and less complex entities. The concern behind this as discussed was ...

Category: ICAI 

Tags: News