Magic-

DAT

PACGH

CHAPTER-1
NatuseObigtivAad Scepe oAudi
CA Aheles
Mt EKAudit (Aditr Team
Todepanded
As pesAPPicesaiination
inantua Kepovh o
amsegkt aanal statements

Tespecde o okt
presc a Maka or Hopt
Opinion (SA-2 Sze, aform
ocusa Evidence Candut Audt
Cencw1tn Opinie

Lamociy Modi4 Y aee

OY Sote Resportitble ual Sete
Onquat oy u opinion)
CCAos}Katns
(SA-3 onditro
Lohen FS Kepresents
e Aud falr
Mateaia Oabdeto
Missatwarst oLHam
Vieo Evidenoe

YexVaeNe Pena siVe

Aduerse (ilae
ele Maieua ans Imndant
() isdate ment Lokn he8e nCOnsislanet
R and FS
 Mayic
DATE

PAG

Mialeeng Muat ewaLu

Accoun in None o e
Refexence
LOh Etmec
Tbung
Omrted
7assh,diclot
deecied As
per Ac
FS Represent
diec Supbocoa
T4E picuu
b Adequate asc leas ooperahrg
Suficieud Evidenes Unambauaus
RecutsF
Hssek
ualsuhes.

A oblective e Audt
SA 2oo Oal Obetie e Tdepedest
Auditny in Conduchng an Adit
Oesaloblectives o avditor incdec

To olin lo ensuve S ac
Reasemalble aSthdle akeRee
AssuNance
Oveza Pfom Mateaa
obieckye rss-totownet
To lonomunicále
TO Report on Fs as Requhedb sisi

Cie to &xprecs opinion)

 Magic
DATI

AG

pesof Audt
Audit 1 not bound On all-pes
Sunese oanistions

AutT Requuve
Unde Lao
Jolutoi
Ct

ollosing Requives Tnides Adit b

Audit a pex lauoLEg) Accouads o popaikos
0 Comonies Caoerned b P.F HUF etc
mpanies Ad Thereis no Spealic
1) bavking Coapasies leal Requiremert
) Ohex statkoa badies a t adC ouns audited
Keauired by Hheis Regwatos On
Or a S pece Ad daecti ves o ov
Hor pwbose Cke
Sanchon o oan
Crrank elc
,Get acouns Adited
for their oon Advantay

Advanta o Audit O inamia Satanent

Uses o helialeleFS)

Salequasde eet eqpexsbnc A asouiatai

Act Mae clhezk_em emplayees
helpulin SeHlinaiabild lotasxeegokadhg
p p h a pameh consiouu
4 elsi_detecbem a s a4 lopses
 laqe

PAG

Ascextainhe thes mcessaty boes Alaand

allied_onls ha p:op
Aovie_existeunte piatien o aous Centipds
acbmassim
Settiemnenb accowts a t t tine
9 R pleakh_ epastre
eut way Reguineaudt4 Costified E.S.

mhest mitaken Accl

o Taolependet
As per SA-200 OvnalOleti
Avditor and Conduet e Audit in Accovdamce
uth tandas Auoliting
audtas s Met exbetel and amot gecluce
a u e t i k ta Zeso bezauase unessn inetakte
o_n dit e s alsesud Ldadtation Qhser
TRP oters]
Natuse ef nanad Kepavg
Repation pxsntaten oES alusLdamat
Mat
qulhsd -fos wnlolema LtinqERF oul euity
Taalltion ianalws subeetine elelcslons_aul
desseuncetainty

NatusNatse o Audit Loceduacs

Thes a piiculasly paical and leqalJtation
On Aduta olnluey Vt ta eideN:

Pos bindt Vpovide

hat MaCowp- kauds mwokus Aodk is ot
May Sefhicticate k c
et too AenhonalCaul ogamu Lnvestghon
DAun ktunhonaly &uhamsoCon
Conteal-ot ot
- Ment
o
 DATE

PAL

baloaves ia
2adhe
Kepastisg
fianaal
nelineas
ef i t valuu
i lalu
tauby
a n e C c s t

losmaton
Oud
Kelevamu
4nfesateu

heliaility
to be tuck Lt
Cost omitatem
talet u
aMatt e
le O a b i l i t g t od t u t matuLal
matLal
_ a n Auolit to dtut
audlasc abilitg
iamicastSush
sikalien asPasticudaly
muo ghadtonunt Matlwe ake
ueeet
asUtns 0

WOn Cowollae nsH

raeds, Învolving Rtatta
htuse ened o
Semot Mat Exist ece Relatee Condihons siichh
daxty Tanaa tnon
mad Cease
onc .natii
Luti

Stasalasd na oces

Role _o Tatexnatioal 4udithnq And AceLaxance

Standacd Beaid
Cset ub in HD.
atsnathona eolecoholn Accastast
EstaLjshe fEAASR)
Tdnaioma AvdiinAndAssucance Sd Boacd
 PAGE

Cokjedies Eoncious)
Tckevest Ond
to daualcp 4 Issue n public
Undex Ost audte,hgh quait andiing seds,

Tke TAASR acdiene u objeu

Echadishina hiqh aldy Audhn cd

OHerPes Relat Publieli

Audit Assuance
CSA) Sexvces ServiCeA Conros vonouvce
wmen-s
(SAE) CRs) CS8
CAASR)
Role of Audiig Aud Ascwace Stel Boavd
Membev
ICAT IFAC
Consitde
t o Revie Erishg Std Alithy
EB rehions t o devdop Nes
Avottig tvachcRS cSAP)racice
Tsceb lay
Commifee t n 1187
Coonud TCAI

2 APC Consiolered Iutevpabonal Audit Gwelulincr

Considev-hem deuleplu SAP
 Magu

T T2002nmedAABS ICAL
APC

Aimed t bring transhasaC inxkan

O AARBs Kenamed
SAR Avdihu Accuanca
standavds
Lscused
SAAp on Audit of Fs
SRE Revieoo histoical Elaancal
ocation
SAE Assuvance ga4emat othex Haan alae
SRS Relalad s&Oice

Coimpliaomce LHt doCumends_Issued ay Toshu

Gidane Note Statemenis

2ouide Gdance ta Membe Issued to Sease
Members.
n Mates_Qrie in AditCompliance by
AeslveAcsistamce for dischar Hhelv
Recolve Ieches nchonc
Mandator lvn Notuwe
Kecomnendatorg
Natuke
ceduse As bex apblicsle PRP
fallooe
 May

PM

Gualihe o Aultor
Audubor 1_concernesut ep0stig o
nomca MottersLoich ore ek Lsh
uan falliLiLEk e raude k
Erovs
2hu, q a t Kequiee a e
Tact Caubioa i r n eee
Goodlemaex iscYetsion
Tadust euslelq Tdgement
cle hadedtece -Relíabldy
Tatiea
short al excoaal qualitiec a
Buanes ss man Coatilbt

Munt Laa hlaae of caulkuse forattaial9

ust Laue bugkest_deasee tegsi

backed oth ludepeedense
La Los
Thonuah
Accoud 4enoalelao ishin
Ezistiing La Ls
Accous A 1k all Branclars

SA- 21O AaALeing he exms

Audit Englaearuts
Orde to estallush LshetLey preconihons
lar an avudit 0s presc Ba audit sau
OeteanineLhetes FRE A Acceplaldr
)obtnim AgsLLme Mat Hhat it acknasla-
wwcex.chamd uspenaibid
 Magu
DATE

FS ae per
fov Ic. a Prouide Audtr
AF FRE Mat Consider
e ce cco Access to aU

Addiioral o
mAesticded Accers.

aaeennet Audit Engaaeneit msS

Tems
ishese Joss fupadant bllth o aditot
clieut Hat ach pakt Als l cleasabei
Mattw. emaa emaeut T wwt h beuce in
LOing SL ndde
ble.ctiw Scope Audik o FS
Responsililt a Acdtor
Reansilild wat
Tdeict A AP FRE
FRE
Aeen@mc pesked -form 4 ondeut
Tesh A dAuditr
t

T las or_hqulaka peeeyin Sh

dekailam adi gagenatd Qudutoy ee nst
 DAH

PA

Recusiug AudE
Audito Sshall Accecs slaethexCcirtunslamcs
haquisu J texms audiE eagagenen o b
aeised o0cd entnd ti UMat
Audtoy ay_decide mot to serd a neo Qndit

stelisis Codihane k ophuhrid to aeiset

A
Tdicatia atmgt miaunderstado
Scep iectie 4 Audit
AnyReiked or sheaia tecmi Audt
3 Re t clhange e SemoY Mat
Sqniicant caas OLOAexihip
S SicantclaaHgela Natus or
eni usness
iz o-
Change n n legal or Requlakor Kequiremet
a Chae
8 Chans ia otes Keporing Keauirement

Accepamce o a coange n engaqemeit

age Ceuwnsdamte

A miaunderstadnn
Yotua6 am auu

A Lstruion en he
 Mayic-
IAT

TACi

AuditoY eeulA Cencldex Casdl easna

Giwen oY Reaaot

T ot Jusktied
Repot Tssuad As per And Mat mot pexmiting
Reised Terms to Continue stn ohgdr
ngagemeut terms Puditor ssall'

nOrder to aoid Loithdras m Audut

Contuaion, nepoRt not gaaemet,if pocsible
ncude Releruee to
Ongvel gaaemet Deiamne ioliato_
o 2An proCeotad hat Report e carCumstances
aspexkatmd In originelto oUer posty E TCLIG
naaeAment

hlatioa Ova Scope Prior s Aulit Eigaqenaat haeat

Acceplame
Mgt or TCCOG Impoces Restichoh on Sape
bellenes limihon hesdk Ih
Audito
isdoi mihg obinion

Auito Shall o t acpE udh a

witen ngaewe