Share this page:

The term “governance” as used in this AAS refers to the role of persons entrusted with the supervision, control and direction of an entity. “Those charged with governance” are ordinarily accountable for ensuring that the entity achieves its objectives, financial reporting, and reporting to interested parties. The AAS establishes standards on communications of audit matters arising from the audit of financial statements between the auditor and those charged with governance of an entity. The AAS therefore provides guidance to auditors as to procedures to identify relevant persons, what are the audit matters of general interest to be communicated, forms of communication, factors affecting communication, confidentiality requirements, laws and regulations etc.

This AAS is effective for all audits related to accounting periods commencing on or after April 1, 2003.


Issued in January, 2003.
Published in the Handbook of Auditing Pronouncements, Vol. I, (Edn. 2003).
Also available as a separate publication of the Institute (Price: Rs. 20/-).
ISBN: 81-88437-11-5

    Quick Links