Standards on Auditing - Related Services and Review of Financial Information

Related Services and Review of Financial Information refer to professional engagements performed by chartered accountants that provide assurance or limited assurance without conducting a full statutory audit. Under the framework issued by the Institute of Chartered Accountants of India, review engagements governed by standards such as SRE 2400 and SRE 2410 involve primarily analytical procedures and inquiries to provide limited assurance, expressed as a negative conclusion that nothing has come to the practitioner’s attention indicating material misstatement. Related services, covered under standards like SRS 4400 and SRS 4410, involve engagements where the practitioner performs specific procedures agreed with the client or compiles financial information without providing assurance. Together, these services allow practitioners to support stakeholders with varying levels of assurance depending on the purpose and scope of the engagement.

SESSION 1

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