Standards on Auditing :

Standards on Auditing prescribe the norms of principles and practices, which the Auditors are expected to follow
in the conduct of Audit. They provide minimum guidance to the Auditor that helps determine the extent of auditing steps and procedures that should be applied in the audit and constitute the criteria or yardstick against which the quality of audit results are evaluated.

Scope of SAs: The SAs apply whenever an independent audit is carried out; that is, in the independent examination of financial information of any entity, whether profit oriented or not, and irrespective of its size, or legal form (unless specified otherwise) when such an examination is conducted with a view to expressing an opinion. The SAs may also have application, as appropriate, to other related functions of auditors. Any limitation on the applicability of a specific SA is made clear in the introductory paragraph of the SA.

The Council of the ICAI has issued following Standards on Auditing (SAs):

1.	SQC 1	Quality Control for Firms that Perform Audit and Reviews of Historical Financial Information and other Assurance and Related Services Engagements
2.	SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
3.	SA 210	Agreeing the Terms of Audit Engagements
4.	SA 220	Quality Control for an Audit of Financial Statements
5.	SA 230	Audit Documentation
6.	SA 240	The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
7.	SA 250	Consideration of Laws and Regulations in an Audit of Financial Statements
8.	SA 260	Communication with Those Charged with Governance
9.	SA 265	Communicating Deficiencies in Internal Control to Those Charged With Governance and Management
10.	SA 299	Responsibility of Joint Auditors
11.	SA 300	Planning an Audit of Financial Statements
12.	SA 315	Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment
13.	SA 320	Materiality in Planning and Performing an Audit
14.	SA 330	The Auditor’s Responses to Assessed Risks
15.	SA 402	Audit Considerations Relating to an Entity Using a Service Organisation
16.	SA 450	Evaluation of Misstatements Identified During the Audit
17.	SA 500	Audit Evidence
18.	SA 501	Audit Evidence – Specific Considerations for Selected Items
19.	SA 505	External Confirmations
20.	SA 510	Initial Audit Engagements – Opening Balances
21.	SA 520	Analytical Procedures
22.	SA 530	Audit Sampling
23.	SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures
24.	SA 550	Related Parties
25.	SA 560	Subsequent Events
26.	SA 570	Going Concern
27.	SA 580	Written Representations
28.	SA 600	Using the Work of Another Auditor
29.	SA 610	Using The Work of Internal Auditors
30.	SA 620	Using the Work of an Auditor’s Expert
31.	SA 700	Forming an Opinion and Reporting on Financial Statements
32.	SA 705	Modifications to the Opinion in the Independent Auditor’s Report
33.	SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
34.	SA 710	Comparative Information—Corresponding Figures and Comparative Financial Statements
35.	SA 720	The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements
36.	SA 800	Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
37.	SA 805	Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
38.	SA 810	Engagements to Report on Summary Financial Statements
39.	SRE 2400	Engagements to Review Financial Statements
40.	SRE 2410	Review of Interim Financial Information Performed by the Independent Auditor of the Entity
41.	SAE 3400	The Examination of Prospective Financial Information
42.	SAE 3402	Assurance Reports on Controls at a Service  Organisation
43.	SRS 4400	Engagements to Perform Agreed-upon Procedures Regarding Financial Information
44.	SRS 4410	Engagements to Compile Financial Information