ICAI News: Auditing and Assurance Standards Board (AASB)

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Auditing and Assurance Standards Board (AASB) | ICAI News

Acknowledgement

We wish to express our sincere thanks to CA. Atul Kumar Gupta, Honourable President, ICAI and CA. Nihar Niranjan Jambusaria, Honourable Vice-President, ICAI for providing us the opportunity to develop this Auditing Guidance on “Subsequent Events – Key Audit Considerations amid COVID-19” for the benefit
of the members.

We express our gratitude to the Board members for their valuable suggestions in finalizing this Guidance.

CA. (Dr.) Debashis Mitra
Vice-Chairman
Auditing and Assurance Standards Board

CA. G. Sekar
Chairman
Auditing and Assurance Standards Board

March 27, 2020: ICAI Accounting and Auditing Advisory – Impact of Coronavirus on Financial Reporting and the Auditors Consideration (issued jointly with Accounting Standards Board of ICAI).

Website Link: https://resource.cdn.icai.org/58829icai47941.pdf

May 10, 2020: Going Concern – Key Considerations for Auditors amid COVID-19.

Website Link: https://resource.cdn.icai.org/59473aasb48392.pdf

May 13, 2020: Physical Inventory Verification – Key Audit Considerations amid COVID-19

Website Link: https://resource.cdn.icai.org/59498aasb48418.pdf

May 17, 2020: Auditor’s Reporting – Key Audit Considerations amid COVID19.

Website Link: https://resource.cdn.icai.org/59546aasb48467.pdf

This document has been prepared to highlight key areas of focus in the current environment when undertaking procedures relating to subsequent events in accordance with the Standards on Auditing (SAs).


This document does not amend or override the SAs and it is not a substitute for reading the SAs.

Preparers, those charged with governance and users of financial statements may find this document helpful in understanding the auditor’s responsibilities in relation to subsequent events.

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