What is SSA audit?

SSAs are written in the context of an audit of financial statements (i.e. historical financial information) by an independent auditor. Users are to adapt the SSAs, where appropriate, when applying to other audit engagements.

Are auditing standards mandatory?

Auditing Standards are mandatory to be by followed by practitioners under the direction issued by the Council of ICAI. Section 143(9) of the Companies Act, 2013 requires every auditor to comply with the Auditing Standards.

What are the audit reporting requirements?

Basic Elements

• The name of the company whose financial statements were audited;
• A statement identifying each financial statement and any related schedule(s) that has been audited;
• The date of, or period covered by, each financial statement and related schedule, if applicable, identified in the report;

Which standard of auditing is applicable?

Standards issued by the AASB include : Standards of Quality Control (SQCs) For all the services under Engagement Standards. These standards are applicable to all auditing firms which perform audits and reviews of historical financial information including assurances and related service engagements.

What are the Singapore Standards on Auditing ( SSAS )?

Singapore Standards on Auditing (SSAs) Singapore Standards on Auditing (SSAs) SSAs are written in the context of an audit of financial statements (i.e. historical financial information) by an independent auditor. Users are to adapt the SSAs, where appropriate, when applying to other audit engagements.

Who is responsible for issuance of audit opinions in Singapore?

A public accountant is responsible for the issuance of audit opinions, and this responsibility includes ensuring that audits are conducted in accordance with the Singapore Standards on Auditing (SSA) and other requirements.

Is the SSA the same as the international audit standards?

The SSAs are fully equivalent to the International Auditing Standards, which are globally accepted auditing standards.

How many series of SSAs are there in Singapore?

Further details on audit procedures can be found at Company Audit Procedures in Singapore. The SSA has 7 main series starting from the 200 series to the 800 series. Some of the key SSAs include: SSA300 – Planning of Audit of Financial Statements.