Linkage of Standards on Auditing


Basically, I need to link SA 805 with SRS 4400. The common thing is that a report is issued for specific performance audit of a financial item in both of them while the basic difference between the two is that the procedures to be performed for that specific engagement is decided by the auditor in sa 805 thereby maintaining independence while in srs 4400, the procedures are decided by the client/user and independence of the auditor in that case is compromised. Kindly correct since this forms the base for both the standards.

The second linkage between the sa 402 and sae 3402. Both of them are in respect of service organisation and reading them together shall help in getting a better command in both of them. Is it correct approach?

Sir, I have enrolled for certain test series of audit.Can I mail my answers in respect of those questions to you so that I can analyse the points which I am lacking?

1 answer

Ravi Staff March 19, 2018

SA 805 — Audit + Of Single FST or Specific Financial ITEMS
SRS 4400 — Agreed Upon Procedures + On any financial information

SA 805– Auditor should be independent
SRS 4400 — Examiner may not be independent / if not specify in report

SA 805 — Auditor designs audit procedures
SRS 4400 — He performs only those procedures which are given in agreement

Such linking if fine, good for understanding dont spend ,much time as they may not be relevant for exams

Yes 402 and 3402 are linked and we discussed it in our lectures in detail. no need to study them together. you can say study 402 first and then 3402. 
no question is ever asked from 3402 in exams in so many years, so it is neglected standard, further it has lot of technical content which will take time to comprehend and retain and then we dont know whether it will be asked.
so we included 3-4 examples in our notes which cover key area properly in short

Third Query
Sorry i am terribly short of time, wont be able to go through questions, we have developed team for evaluation of certified copies as of now, if possible we will make line by line reading and evaluation of answers.. if we are doing it, it will be informed through site and social media


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