ICAI has issued an Implementation Guide to Standard on Auditing (SA) 580 – Written Representations.
The Implementation Guide provide practical guidance on implementation of the Standard on Auditing (SA) 580 “Written Representations”. The Standard is effective for audits of financial statements for periods beginning on or after April 1, 2009.
Written representations are audit evidence that the auditor requires in connection with the audit of the entity’s financial statements
The Standard deals with the auditor’s responsibility to obtain written representations from management to support other audit evidence and to respond to written representations.
The Implementation Guide contains Introduction and Overview, Implementation Guidance, Illustrative Checklist and Appendices. Chapter 2 of the Implementation Guide contains detailed guidance on various aspects of SA 580 in a Question-Answer format. The Implementation Guide will enable auditors to comply with requirements of SA 580 effectively.
Download ICAI Implementation Guide to SA 580 Click Here >>
- Cash deposit in demonetisation held exempt assessee being resident of Arunachal Pradesh
- ICAI bans seven Chartered Accountants being guilty of professional misconduct
- ITAT deleted addition made on presumption – there cannot be loss in restaurant business
- Rent of plot taxed as income from other sources in absence of proof of structure on it
- Application invited for special Public Prosecutors in Income Tax Department NER Region