AAS1: Basic principles governing an Audit:
- Audit is the independent examination on any entity.
- Audit should be honest and sincere professional work
- Auditor must respect the confidentiality of his client
- Auditor should be properly trained
- Auditor can rely on the works of the other but he will be responsible
- Auditor should plan and document his work
- Auditor should ensure that the accounting system is adequate
- For any qualified opinion the reasons must be given for making such a statement.
AAS 2: Objective and scope of the Audit of Financial statement.
- Auditor must ensure the reliability and sufficiency of the information by making a study and evaluation of the accounting systems and internal controls.
- Determine relevant information is there and properly disclosed.
- Auditor is responsible for forming an opinion on the financial statement while the management is responsible for preparing them.
AAS4: Auditors responsibility to consider fraud and error in an audit of financial statement
AAS5: Audit Evidence
AAS6: Risk Assessment and Internal Control
AAS7 Relying upon the work of the internal Auditor
AAS8: Audit Planning
AAS9: Using the work of an expert.
AAS10: Using the work of another auditor.
AAS11: Representations by management.
AAS12: Responsibility of Joint Auditors
AAS13: Audit Materiality
AAS14: Analytical procedures
AAS15: Audit Sampling
AAS16: Going Concern
AAS17: Quality control for Audit work
AAS18: Audit of accounting estimates.
AAS19: Subsequent events
AAS20: Knowledge of the business
AAS21: Laws and regulation in an Audit of financial statements.
AAS22: Initial engagements opening balances
AAS23: Related parties
AAS24: Audit considerations to entities using service organizations.
AAS26 Terms of audit engagement
AAS27: Communication of audit matters with those charged with governance
AAS28: Auditors report on financial statement
AAS29: Auditing in a Computer Information System environment
AAS30: External Confirmations
AAS31: Engagement to compile financial information
AAS32: Engagement to perform agreed upon procedures regarding financial information.