Are there any changes in REPORTING in INDEPENDENT AUDIT REPORT
Siddharth Bonny Tiwari (40 Points)
21 June 2018
Are any changes in reporting in INDEPENDENT AUDIT REPORT?
Siddharth Bonny Tiwari (40 Points)
21 June 2018
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 21 June 2018
prashant jain
(Article Assistant)
(42 Points)
Replied 22 June 2018
NO, There is no change in audit Report for FY 2017-18 as ICAI deffered the applicability of Four standard as mentioned below.
The Council of ICAI at its 364th meeting held in March 2017 (in partial modification of decision taken by it at its 350th meeting held in February 2016), has decided that the effective date/applicability of four Standards viz. SA 700 (Revised), SA 705 (Revised), SA 706 (Revised) and SA 701 be deferred by one year and consequently the said Standards shall now be effective/applicable for audits of financial statements for periods beginning on or after April 1, 2018 (instead of audits of financial statements for periods beginning on or after April 1, 2017 as was earlier decided).
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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