AMENDMENT TO SA 230 AUDIT DOCUMENTATION - RETENTION PERIOD REDUCED FROM 10 YEARS TO 7 YEARS.
14 Replies
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 07 December 2010
ya absolutely ryt!!
RATIKA BINDRA
(STUDENT)
(144 Points)
Replied 07 December 2010
yups! it's right
but can anyone clarify whether RETENTION PERIOD of 7 years is mentioned in SA or recomended by ICAI.
(Guest)
| Originally posted by : RATIKA BINDRA | ||
 |
yups! it's right but can anyone clarify whether RETENTION PERIOD of 7 years is mentioned in SA or recomended by ICAI. |
 |
it is recomended by icai..there was a notification issued by the icai in aug'09 and as per the notification working paper should be kept for 7 yrs...
CA Shiva Teja T
(Chartered Accountant and Cost Accountant)
(145 Points)
Replied 07 December 2010
It is as per SQC-1 .........i.e.., standard on quality control
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 08 December 2010
| Originally posted by : palak | ||
 |
totally true |
 |
It should maintain atleast upto 7 years from the date of signing of audit report.
Mayank Raj
(CA Final)
(91 Points)
Replied 28 January 2011
yes absolutely correct........................
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