Standards on Auditing explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
The Standards on Auditing (SAs) are the rule book that an auditor in India follows when auditing financial statements. This guide lists every standard in the ICAI set from SA 200 to SA 810, the quality standards SQC 1, SQM 1 and SQM 2, and the date from which each one applies.
The standards, as effective for audits of financial statements for periods beginning on or after the dates shown in the table below, are issued by the Institute of Chartered Accountants of India (ICAI). ICAI may revise a standard at any time, so check the current text on icai.org before relying on this list.
The SAs are grouped in six series: 200 series for general principles, 300 series for risk assessment, 500 series for audit evidence, 600 series for using the work of others, 700 series for reporting and 800 series for special areas. Section 143(9) of the Companies Act, 2013 requires an auditor to comply with auditing standards. For quality control, SQC 1 applies today; SQM 1 and SQM 2 can be applied on a recommendatory basis, and ICAI deferred their mandatory date on 31 March 2026 until further announcement.
How the numbering works
Think of the numbers as a map of an audit from start to finish. Each hundred is a stage, and the standards inside it deal with one part of that stage.
| Series | Stage of the audit | What it deals with |
|---|---|---|
| 200-299 | General principles and responsibilities | The auditor's overall aim, engagement terms, documentation, fraud, laws, governance and joint audits |
| 300-499 | Risk assessment and response | Planning, understanding the entity, materiality, responding to risks, service organisations, misstatements |
| 500-599 | Audit evidence | What counts as evidence and how to gather it: inventory, confirmations, sampling, estimates, related parties |
| 600-699 | Using the work of others | Other auditors, internal auditors and experts |
| 700-799 | Audit conclusions and reporting | Forming the opinion, the report, key audit matters, modifications, comparatives, other information |
| 800-899 | Special areas | Special purpose frameworks, single statements and summary statements |
Section 143 of the Companies Act, 2013 is where the statutory duty to follow these standards sits; our section 143 explainer covers the auditor's powers and duties, and this series covers the standards themselves.
The full list with effective dates
The titles below are short forms of the official titles. Dates are the dates printed in each standard. Where a standard says "Revised", the revised text is the one listed.
| Standard | Title and purpose | Applies from |
|---|---|---|
| SA 200 | Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing: reasonable assurance, skepticism, audit risk | 1 April 2010 |
| SA 210 | Agreeing the Terms of Audit Engagements: preconditions and the engagement letter | 1 April 2010 |
| SA 220 | Quality Control for an Audit of Financial Statements: the engagement partner's quality duties | 1 April 2010 |
| SA 230 | Audit Documentation: working papers and the final file | 1 April 2009 |
| SA 240 | The Auditor's Responsibilities Relating to Fraud: fraud risks and responses | 1 April 2009 |
| SA 250 | Consideration of Laws and Regulations: non-compliance | 1 April 2009 |
| SA 260 (Revised) | Communication with Those Charged with Governance | 1 April 2017 |
| SA 265 | Communicating Deficiencies in Internal Control | 1 April 2010 |
| SA 299 (Revised) | Joint Audit of Financial Statements | 1 April 2018 |
| SA 300 | Planning an Audit of Financial Statements | 1 April 2008 |
| SA 315 | Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and its Environment | 1 April 2008 |
| SA 320 | Materiality in Planning and Performing an Audit | 1 April 2010 |
| SA 330 | The Auditor's Responses to Assessed Risks | 1 April 2008 |
| SA 402 | Audit Considerations Relating to an Entity Using a Service Organisation | 1 April 2010 |
| SA 450 | Evaluation of Misstatements Identified during the Audit | 1 April 2010 |
| SA 500 | Audit Evidence | 1 April 2009 |
| SA 501 | Audit Evidence - Specific Considerations for Selected Items: inventory, litigation, segments | 1 April 2010 |
| SA 505 | External Confirmations | 1 April 2010 |
| SA 510 | Initial Audit Engagements - Opening Balances | 1 April 2010 |
| SA 520 | Analytical Procedures | 1 April 2010 |
| SA 530 | Audit Sampling | 1 April 2009 |
| SA 540 | Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures | 1 April 2009 |
| SA 550 | Related Parties | 1 April 2010 |
| SA 560 | Subsequent Events | 1 April 2009 |
| SA 570 (Revised) | Going Concern | 1 April 2017 |
| SA 580 | Written Representations | 1 April 2009 |
| SA 600 | Using the Work of Another Auditor | audits for accounting periods beginning on or after 1 April 2002 |
| SA 610 (Revised) | Using the Work of Internal Auditors | 1 April 2016 |
| SA 620 | Using the Work of an Auditor's Expert | 1 April 2010 |
| SA 700 (Revised) | Forming an Opinion and Reporting on Financial Statements | 1 April 2018 |
| SA 701 | Communicating Key Audit Matters in the Independent Auditor's Report | 1 April 2018 |
| SA 705 (Revised) | Modifications to the Opinion in the Independent Auditor's Report | 1 April 2018 |
| SA 706 (Revised) | Emphasis of Matter Paragraphs and Other Matter Paragraphs | 1 April 2018 |
| SA 710 | Comparative Information - Corresponding Figures and Comparative Financial Statements | 1 April 2011 |
| SA 720 (Revised) | The Auditor's Responsibilities Relating to Other Information | 1 April 2018 |
| SA 800 (Revised) | Special Considerations - Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks | 1 April 2024 |
| SA 805 (Revised) | Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items | 1 April 2024 (for an element, as at a date on or after 1 April 2024) |
| SA 810 (Revised) | Engagements to Report on Summary Financial Statements | 1 April 2024 (engagements to report on summary financial statements for periods beginning on or after that date) |
| SQC 1 | Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements | recommendatory from 1 April 2008, mandatory from 1 April 2009 |
| SQM 1 | Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements | recommendatory from 1 April 2025; mandatory date deferred |
| SQM 2 | Engagement Quality Reviews | recommendatory from 1 April 2025; mandatory date deferred |
The quality standards today
The three quality standards deal with how an audit firm, as opposed to one audit, is run. SQC 1 is the quality control standard that applies today. SQM 1 and SQM 2 were issued by ICAI with a recommendatory date of 1 April 2025 and a mandatory date of 1 April 2026, but ICAI's Council decided on 31 March 2026 to defer the mandatory date "until further announcement", and until then SQC 1 continues to apply. A firm may apply SQM 1 on a recommendatory basis, but it has not replaced SQC 1.
SA 220, which sits in the table above, is the 2010 text and works with SQC 1. ICAI has also issued SA 220 (Revised) on quality management for an audit together with SQM 1 and SQM 2; check its status on icai.org along with theirs. Separately, a revised SA 600 has been proposed for group audits; check whether it has been notified before relying on it.
How the standards fit together
Most standards follow the same plan: scope, objective, definitions, requirements and application material. The requirements, numbered 1, 2, 3 and so on, are what the auditor must do. The application material, numbered A1, A2 and so on, explains how. Our explainers follow the same order so you can find a paragraph quickly.
An audit moves roughly in this order. The auditor agrees the engagement terms (SA 210), plans, assesses risk and sets materiality, responds to the risks, gathers evidence, concludes, and reports. Throughout, the overall aim in SA 200 is to obtain reasonable assurance that the financial statements are not materially misstated, and to report on them. Reasonable assurance is high, but it is not an absolute assurance.
For the report itself, start with SA 700. For companies, the report also carries the statements required by the Companies (Auditor's Report) Order; our CARO 2020 guidance series takes that clause by clause.
What a company's accountant should expect
The standards bind the auditor, but they shape what the finance team is asked for. Expect an engagement letter, requests for documents to understand the business and its controls, confirmations sent to banks and debtors, a count of inventory, a list of related parties, and a written representation letter signed by management. If the books are in order and the records are ready, the audit goes faster. Our books of accounts compliance support helps keep records audit-ready through the year.
Need help with audit readiness?
If you are preparing for a statutory audit and want your records, controls and schedules in a shape the auditor can work with, TaxClue's books of accounts compliance team can review them with you before the audit begins.
Key takeaways
- The SAs run in six series, from general principles at 200 to special areas at 800.
- Each standard prints its own effective date; most core standards apply to periods beginning on or after dates between 2008 and 2018, and the three special-area standards from 1 April 2024.
- Section 143(9) of the Companies Act, 2013 requires auditors to follow auditing standards.
- SQC 1 applies today; SQM 1 and SQM 2 are recommendatory because ICAI deferred their mandatory date on 31 March 2026.
- Check icai.org for revisions, including SA 220 (Revised) and any notified revision of SA 600.
Read next
- SQC 1: client acceptance, ethics and independence
- SA 200: the auditor's overall objectives
- SA 700: forming an opinion on financial statements
- Section 143: auditor powers and duties
Disclaimer: Based on the Standards on Auditing and quality standards issued by the Institute of Chartered Accountants of India, in the versions named in the article, and ICAI's announcement of 31 March 2026 on SQM 1 and SQM 2, as consulted on 3 October 2026. ICAI revises standards from time to time; check the current text and effective dates on icai.org. This article is general information, not legal advice; check the official text before acting.