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  • Ordering Information: Guidance Note On Audit of Abridged Financial Statements

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    This guidance note from The Institute of Chartered Accountants of India provides guidance to members on auditing abridged financial statements. It outlines the legal requirements for abridged financial statements, their form and content, and authentication requirements. It also provides guidance on conducting an audit of abridged financial statements and includes sample auditor reports. Appendices include a form for statement of salient features and sample qualified and unqualified audit opinions.

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    This guidance note from The Institute of Chartered Accountants of India provides guidance to members on auditing abridged financial statements. It outlines the legal requirements for abridged financial statements, their form and content, and authentication requirements. It also provides guidance on conducting an audit of abridged financial statements and includes sample auditor reports. Appendices include a form for statement of salient features and sample qualified and unqualified audit opinions.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    4 views2 pages

    Ordering Information: Guidance Note On Audit of Abridged Financial Statements

    Uploaded by

    rati
    This guidance note from The Institute of Chartered Accountants of India provides guidance to members on auditing abridged financial statements. It outlines the legal requirements for abridged financial statements, their form and content, and authentication requirements. It also provides guidance on conducting an audit of abridged financial statements and includes sample auditor reports. Appendices include a form for statement of salient features and sample qualified and unqualified audit opinions.

    Copyright:

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    of 2

    Guldunce Note on Audlt of Abrldged llnuncluI

    Stutements
    The Comanies (Amendmenl) Acl, 1988, broughl aboul significanl
    changes in Seclion 219 of lhe Comanies Acl, 1956. y virlue of lhese
    amendmenls, a comany Iisled on a recognised slock exchange couId
    send abridged baIance sheel and abridged rofil and Ioss accounl lo ils
    members, elc. sub|ecl lo cerlain condilions. The form of lhese abridged
    financiaI slalemenls had been rescribed by lhe CenlraI Governmenl.
    The Comanies Acl, 1956, did nol secificaIIy require audil of abridged
    financiaI slalemenls. The audil of abridged financiaI slalemenls assured
    lhe readers lhal lhe reIevanl informalion vas roerIy discIosed in such
    slalemenls and lhus Iend a grealer degree of credibiIily lo lhem.
    Considering lhis, lhe Inslilule issued lhis Guidance Nole lo rovide
    guidance lo lhe members on issues reIaling lo such audil. The foIIoving
    is an overviev of lhe areas covered by lhe Guidance Nole:
    LegaI requiremenls
    Iorm and conlenl of abridged financiaI slalemenls
    Iorm and conlenl of abridged rofil and Ioss accounl
    Olher requiremenls regarding abridged financiaI slalemenls
    Aulhenlicalion of abridged financiaI slalemenls
    Audil of abridged financiaI slalemenls
    The aendices lo lhe Guidance Nole conlain Iorm 23A on slalemenl
    conlaining saIienl fealures of baIance sheel and rofil and Ioss accounl
    elc., secimen audilor's reorl on abridged financiaI slalemenls
    quaIified and unquaIified oinion.
    | - - c : ! | o A c c - | , I 1 1 .
    | c | | | - | : ! | o | | : | + o ! | . . ' . ( A c ! | | | o | t . o . c o . : c : o | - , \ . | . | | | ! o . ` I : .
    A | - . + c + | | + | | : + - + - : + t + | : c | | | . + | | . o . ( | | : | o - | | | c | : t | . : . k - . I a / - : .
    | S | ` . I - a a - ` ` - a .
    Orderlng |nformutlon
    The ubIicalion can be oblained from lhe saIes counler al lhe RegionaI
    offices or al lhe Head office of lhe Inslilule. Coies can aIso be oblained
    by osl. To order by osl, send a demand drafl for lhe amounl of rice
    of lhe ubIicalion (add lhe charges for lhe desired mode of deIivery) in
    favour of The Secrelary, The Inslilule of Charlered Accounlanls of
    India, Nev DeIhi, ayabIe al Nev DeIhi, lo lhe IoslaI SaIes
    Dearlmenl, lhe Inslilule of Charlered Accounlanls of India, ICAI
    havan, A-29, Seclor-62, Noida-201309 (U.I.)

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