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This Auditing and Assurance Standard was the first standard on auditing issued by the Institute. As the name suggests, it seeks to lay down and briefly explain the basic principles which govern the auditor’s professional responsibilities and which should be complied with whenever an audit is carried out. These principles are, namely, integrity, objectivity and independence, confidentiality, skills and competence, work performed by others, documentation, planning, audit evidence, accounting system and internal control, and, finally, audit conclusions and reporting.

The AAS is effective for all audits relating to accounting periods beginning on or after April 1, 1985.


Issued in April, 1985. Published in the Handbook of Auditing Pronouncements, Vol. I, (Edn. 2003).
Also available as a separate publication of the Institute (Price: Rs. 20/-).
ISBN: 81-85868-34-4.

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