Page 134 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori

(CNO - SA 700.320) Date of the Auditor’s Report:
1. Management/TCWG signing: The evidence should also demonstrate that individuals with recognized
authority have taken responsibility for the financial statements.
2. Report Date: The date of the auditor's report should not precede the date when the auditor has obtained
sufficient appropriate audit evidence to form an opinion on the financial statements. The evidence should
confirm that all components of the financial statements, including related notes, have been prepared.

(CNO - SA 700.340) UDIN Compliance for Chartered Accountants
Compliance: Chartered Accountants must comply with all signature-related requirements as per relevant laws,
regulations, and Standards on Auditing (SAs), and also adhere to relevant announcements and clarifications
issued by the Institute of Chartered Accountants of India (ICAI).
UDIN: The Unique Document Identification Number (UDIN) must be mentioned. This requirement became
mandatory from 1st July 2019. The UDIN requirement applies to both manually and digitally signed reports or
certificates. The UDIN requirement also extends to certificates uploaded online. (Days – 60 Days)

(CNO - SA 700.360) Auditor’s Report Prescribed by Law or Regulation
If the auditor is required by law or regulation applicable to the entity to use a specific layout, or wording of the
auditor’s report, the auditor’s report shall refer to Standards on Auditing only if the auditor’s report includes, at
a minimum, each of the following elements:
Title / Addressee / Opinion / Basis of Opinion / Going Concern / KAM / Management Responsibility / Auditor
Responsibility / Signature / Place / Date

(CNO - SA 700.380) Auditor’s Report for Audits Conducted in Accordance with Both Standards on
Auditing Issued by ICAI and International Standards on Auditing or Auditing Standards of Any Other
Jurisdiction:
1. Dual Standards: An audit may be conducted in accordance with both the Standards on Auditing issued by
ICAI and the International Standards on Auditing or auditing standards of another jurisdiction.
2.Conditions

2A. No Conflict: The auditor can refer to both sets of standards in their report only if there is no conflict between
them that would lead to a different opinion or omission of an Emphasis of Matter or Other Matter paragraph
required by the Standards on Auditing.
2B. Report Elements: The auditor's report must include all elements set out in the Auditor's Report Prescribed
by Law or Regulation when using the layout or wording specified by the Standards on Auditing.
3. Clear Identification: If the auditor's report refers to both the International Standards on Auditing or the
auditing standards of a specific jurisdiction and the Standards on Auditing issued by ICAI, it must clearly identify
both, including the jurisdiction of origin of the other auditing standards.

(CNO - SA 700.400) Supplementary Information Presented with the Financial Statements
Evaluation: The auditor must assess whether supplementary information, not required by the financial
reporting framework, is an integral part of the financial statements based on its nature or presentation.
Integral: If considered integral, the auditor's opinion should cover this supplementary information.
Not Integral: If the supplementary information is not considered integral to the audited financial statements,
the auditor should evaluate whether it is clearly distinguishable from the audited statements.
Differentiated: If the supplementary information is not clearly differentiated, the auditor should request
management to change its presentation. If management refuses to change the presentation, the auditor should
identify and disclose the unaudited supplementary information in the auditor's report.

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