Auditing Standards–setting in India

  The Auditing and Assurance Standards Board of the Institute formulates the auditing standards. Broadly, following is the procedure for formulating auditing standards: 1. The Auditing and Assurance Standards Board identifies the areas where auditing standards need to be formulated and the priority in regard to their selection. 2. In the preparation of the auditing standards, the Board is normally, assisted by study groups comprising of a cross section of members [...]

Posted on: 06.12.2009 | Continue »