Exposure Drafts of SQM 1, SQM 2, SA 220 (Revised), SA 250 (Revised), SA 315 (Revised), SA 540 (Revised), SRS 4400 (Revised) Exposure Drafts of SQM 1, SQM 2, SA 220 (Revised), SA 250 (Revised), SA 315 (Revised), SA 540 (Revised), SRS 4400 (Revised) Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

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Exposure Drafts of SQM 1, SQM 2, SA 220 (Revised), SA 250 (Revised), SA 315 (Revised), SA 540 (Revised), SRS 4400 (Revised)

July, 12th 2023

Auditing and Assurance Standards Board
The Institute of Chartered Accountants of India
11th July, 2023

Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised)

The Auditing and Assurance Standards Board (AASB) of ICAI has issued the Exposure Drafts of following Engagement and Quality Control Standards for public comments:

S. No.	Particulars	Link for download
1	SQM 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements	Please click here to download
2	SQM 2, Engagement Quality Reviews	Please click here to download
3	SA 220(Revised), Quality Management for an Audit of Financial Statements	Please click here to download
4	SA 250(Revised), Consideration of Laws and Regulations in an Audit of Financial Statements	Please click here to download
5	SA 315(Revised), Identifying and Assessing the Risks of Material Misstatement	Please click here to download
6	SA 540(Revised), Auditing Accounting Estimates and Related Disclosures	Please click here to download
7	SRS 4400(Revised), Agreed-Upon Procedures Engagements	Please click here to download
8	Conforming Amendments to Other Standards arising from SQM 1, SQM 2 and SA 220(Revised)	Please click here to download
9	Conforming Amendments to Other Standards arising from SA 250(Revised)	Please click here to download
10	Conforming Amendments to Other Standards arising from SA 315(Revised)	Please click here to download
11	Conforming Amendments to Other Standards arising from SA 540(Revised)	Please click here to download

Invitation to comment

AASB invites comments from various stakeholders on abovementioned exposure drafts.

Comments are most helpful if they indicate the specific paragraph(s) to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

How to submit Comments

Comments on abovementioned exposure drafts may be submitted through any of the following modes.

1. Email:	aasb@icai.in
2. Postal:	Secretary, Auditing and Assurance Standards Board The Institute of Chartered Accountants of India ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi- 110002

Last date for submitting comments is 25th August 2023.