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 :
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.
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