Sinhala (Sri Lanka)Tamil (Sri Lanka)

CA Sri Lanka

    Font size
  • Increase font size
  • Decrease font size

Auditing Standards

The Sri Lanka Auditing Standards are based on the International Standards on Auditing (ISA) published by the International Auditing Practices Committee (IAPC) of the International Federation of Accountants (IFAC), with slight modifications to meet local conditions and needs. Hence compliance with the Sri Lanka Auditing Standards ensures compliance in all material respects with the International Standards on Auditing.

This the new bound volume comprises of the Sri Lanka Auditing Standards and Sri Lanka Standards on Quality Control 1 (Volume I) and Sri Lanka Other Audit Pronouncements and Sri Lanka Related Services Pronouncements (Volume II). Volume II can be referred under Audit Pronouncements via CA Sri Lanka website. These Standards are very well compiled and should provide excellent material for Audit Practitioners.

Under the Act, compliance with these Standards is compulsory when carrying out the audits of entities specified in the said Act. This Act not only places the responsibility of complying with these Standards on the Auditors alone, but also places a corresponding responsibility on the entity's Management to take all reasonable steps to ensure that these Standards are complied with in the conduct of the audits of their accounts.

As required by the Sri Lanka Accounting & Auditing Standards Act No. 15 of 1995, these Standards have been reviewed by the Statutory Auditing Standards Committee set up under the Act and recommended for adoption by the Council of the Institute. Accordingly the Council has adopted these Standards as the Sri Lanka Auditing Standards (SLAuSs).

Please visit www.slaasc.lk/auditing for Sri Lanka Auditing standards

If you are living outside Sri Lanka please click here.

Structure of Pronouncements Issued by the Institute of Chartered Accountants of Sri Lanka

Preface to the Sri Lanka Auditing Standards and Sri Lanka Standard on Quality Control

Glossary of Terms

Sri Lanka Standard on Quality Control (SLSQC) 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements

SLAuS 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Sri Lanka Auditing Standards

SLAuS 210, Agreeing the Terms of Audit Engagements

SLAuS 220, Quality Control for an Audit of Financial Statements

SLAuS 230, Audit Documentation

SLAuS 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements

SLAuS 250, Consideration of Laws and Regulations in an Audit of Financial Statements

SLAuS 260, Communication with Those Charged with Governance

SLAuS 265, Communicating Deficiencies in Internal Control to Those Charged with Governance and Management

SLAuS 300, Planning an Audit of Financial Statements

SLAuS 315, Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment

SLAuS 320, Materiality in Planning and Performing an Audit

SLAuS 330, The Auditor’s Responses to Assessed Risks

SLAuS 402, Audit Considerations Relating to an Entity Using a Service Organization

SLAuS 450, Evaluation of Misstatements Identified during the Audit

SLAuS 500, Audit Evidence

SLAuS 501, Audit Evidence - Specific Considerations for Selected Items

SLAuS 505, External Confirmations

SLAuS 510, Initial Audit Engagements - Opening Balances

SLAuS 520, Analytical Procedures

SLAuS 530, Audit Sampling

SLAuS 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures

SLAuS 550, Related Parties

SLAuS 560, Subsequent Events

SLAuS 570, Going Concern

SLAuS 580, Written Representations

SLAuS 600, Special Considerations - Audits of Group Financial Statements (Including the Work of Component Auditors)

SLAuS 610, Using the Work of Internal Auditors

SLAuS 620, Using the Work of an Auditor’s Expert

SLAuS 700, Forming an Opinion and Reporting on Financial Statements

SLAuS 705, Modifications to the Opinion in the Independent Auditor’s Report

SLAuS 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report

SLAuS 710, Comparative Information - Corresponding Figures and Comparative Financial Statements

SLAuS 720, The Auditor’s Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements

SLAuS 800, Special Considerations - Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks

SLAuS 805, Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement

SLAuS 810, Engagements to Report on Summary Financial Statements

SLAPN 1000, Special Considerations in Auditing Financial Instruments

SLAuS 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment

SLAuS 610 (Revised), Using the Work of Internal Auditors

Conforming Amendments to Other SLAuSs