Exposure Drafts of SQM 1, SQM 2, SA 220(Revised)
Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised)
The Auditing and Assurance Standards Board (AASB) of ICAI has issued the Exposure Drafts of following Engagement and Quality Control Standards for public comments:
| S. No. | Particulars | Link for download |
| 1 | SQM 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements | Please click here to download |
| 2 | SQM 2, Engagement Quality Reviews | Please click here to download |
| 3 | SA 220(Revised), Quality Management for an Audit of Financial Statements | Please click here to download |
| 4 | SA 250(Revised), Consideration of Laws and Regulations in an Audit of Financial Statements | Please click here to download |
| 5 | SA 315(Revised), Identifying and Assessing the Risks of Material Misstatement | Please click here to download |
| 6 | SA 540(Revised), Auditing Accounting Estimates and Related Disclosures | Please click here to download |
| 7 | SRS 4400(Revised), Agreed-Upon Procedures Engagements | Please click here to download |
| 8 | Conforming Amendments to Other Standards arising from SQM 1, SQM 2 and SA 220(Revised) | Please click here to download |
| 9 | Conforming Amendments to Other Standards arising from SA 250(Revised) | Please click here to download |
| 10 | Conforming Amendments to Other Standards arising from SA 315(Revised) | Please click here to download |
| 11 | Conforming Amendments to Other Standards arising from SA 540(Revised) | Please click here to download |
Invitation to comment
AASB invites comments from various stakeholders on abovementioned exposure drafts.
Comments are most helpful if they indicate the specific paragraph(s) to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
How to submit Comments
Comments on abovementioned exposure drafts may be submitted through any of the following modes.
| 1. Email: | [email protected] |
| 2. Postal: | Secretary, Auditing and Assurance Standards Board The Institute of Chartered Accountants of India ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi- 110002 |
Last date for submitting comments is 25th August 2023.
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