ICAI has issued a new notification for Intermediate New Syllabus Students. The notification clarifies certain confusions arising earlier in Auditing Subject regarding exclusions. The text of the notification is given below –
Clarificatory Announcement for CA INTERMEDIATE (NEW) Students Appearing in November, 2019 Examination and onwards
Paper 6-Auditing and Assurance
In view of decision taken by the Competent Authority, 9 Engagement and Quality Control Standards on Auditing and 8 Guidance notes are excluded from the syllabus through list of pronouncements. The same is reproduced hereunder again for the sake of clarity. However, it may be clarified that if any content relating to above Standards and Guidance notes is included in the Study Modules (1 and 2 ) itself, it is very much relevant. Accordingly, although they are excluded from the syllabus yet it is expected that wherever discussion relating to the above is given in the different chapters of the Study Modules (1 and 2), the same would continue to be relevant.
List of exclusions is given hereunder :
Following Engagements and Quality Control Standards on Auditing are excluded.
|S. N o||SA||Exclusions|
|1||SA 260||Communication with Those Charged with Governance (Revised)|
|2||SA 265||Communicating Deficiencies in Internal Control to Those Charged with Governance and Management|
|3||SA 330||The Auditor’s Responses to Assessed Risks|
|4||SA 402||Audit Considerations Relating to an Entity Using a Service Organization|
|5||SA 450||Evaluation of Misstatements Identified during the Audits|
|6||SA 540||Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures|
|7||SA 600||Using the Work of Another Auditor|
|8||SA 620||Using the Work of an Auditor’s Expert|
|9||SA 720||The Auditor’s Responsibilities Relating to Other Information|
- Following Guidance Notes are excluded:
- Guidance Note on Audit of Inventories.
- Guidance Note on Audit of Debtors, Loans and Advances.
- Guidance Note on Audit of Investments.
- Guidance Note on Audit of Cash and Bank Balances.
- Guidance Note on Audit of Liabilities.
- Guidance Note on Audit of Revenue.
- Guidance Note on Audit of Expenses.
- Guidance Note on Reporting under section 143(3)(f) and (h) of the Companies Act, 2013
URL provided by ICAI regarding above said notification can be accessed from below –
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