ICSI issues four Auditing Standards which are mandatory from 1st April, 2020
ICSI issues four Auditing Standards on Audit Engagement; Audit Process and Documentation; Forming of Opinion and Secretarial Audit
The Council of the Institute of Company Secretaries of India (ICSI) has approved the issuance of four ICSI Auditing Standards and the same were released on May 6, 2019 at the ICSI House, New Delhi.
The Standards are required to be observed by the Company Secretaries undertaking Audits. The Standards seek to promote best auditing practices, uniformity and consistency while conducting audits.
The four Standards are :
CSAS-1: Auditing Standard on Audit Engagement; Click here
CSAS-2: Auditing Standard on Audit Process and Documentation; Click here
CSAS-3: Auditing Standard on Forming of Opinion, and Click here
CSAS-4: Auditing Standard on Secretarial Audit Click here
These standards are applicable on recommendatory basis on Audit engagements accepted by the Auditor on or after 1st July, 2019; and mandatory for Audit engagements accepted by the Auditor on or after 1st April, 2020.