05 October 2011
The new auditing standards which begins with SA series, why is it so numbered? E.g Why basic principles governing audit is named SA-200 & using work of another auditor named SA-600?
05 October 2011
The main purpose of numbering standaards is to classify and group standards on a particular subject in one series. Different SA series have been given to a particular subject according to their usage and function. It also facilitates easy insertion of any new standard related to particular subject. Here is the Classification:
SA- Standards on Auditing SRE- Standards on review engagements SQC- Standard on Quality control SAE- Standards on Assurance Engagements SRS- Standard on Related Service Engagements
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