Nepal Standards on Auditing
As per the decision of the Council, the following Nepal Standards on Auditing have been made Mandatory for Compliances.
Standards on Quality Control.
| S. No. | Existing NSAs | NSAs Revised Serial Number | Name | Effective Date (Original) |
Revised Date |
|---|---|---|---|---|---|
| 01 | NSQC 1 | Nepal Standards on Quality Control (NSQC)1: Quality control for firm's that perform audits and review of historical Financial Information and other. Assurance and related Service Engagement | 1 Shrawan 2065 (16 July 2008) |
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| 02 | Preface to the Nepal Standards on Quality Control, Auditing, Review, and other Assurance and related Service. | 1 Shrawan 2065 (16 July 2008) |
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| 03 | Nepal Framework for Assurance Engagements | 1 Shrawan 2062 (16 July 2005) |
1 Shrawan 2065 (16 July 2008) |
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| 04 | 01 | 200 | Objectives and General Principles Governing an Audit of Financial Statements | 1 Shrawan 2060 (17 July 2003) |
1 Shrawan 2065 (16 July 2008) |
| 05 | 02 | 210 | Terms of Audit Engagements | 1 Shrawan 2060 (17 July 2003) |
1 Shrawan 2065 (16 July 2008) |
| 06 | 03 | 230 | Audit Documentation | 1 Magh 2060 (15 January 2004) |
1 Shrawan 2065 (16 July 2008) |
| 07 | 04 | 500 | Audit Evidence | 1 Magh 2060 (15 January 2004) |
|
| 08 | 05 | 240 | The Auditor's Responsibility to Consider Fraud and Error in an Audit of Financial Statements | 1 Shrawan 2061 (16 July 2004) |
1 Shrawan 2065 (16 July 2008) |
| 09 | 06 | 320 | Audit Materiality | 1 Shrawan 2061 (16 July 2004) |
1 Shrawan 2065 (16 July 2008) |
| 10 | 07 | 300 | Planning an Audit of Financial Statements | 1 Shrawan 2061 (16 July 2004) |
1 Shrawan 2065 (16 July 2008) |
| 11 | 08 | 700 | The Independent Auditors Report on a Complete Set of General Purpose Financial Statement | 1 Shrawan 2061 (16 July 2004) |
|
| 12 | 09 | 530 | Audit Sampling and other Selective Testing Procedures | 1 Shrawan 2061 (16 July 2004) |
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| 13 | 10 | 570 | Going Concern | 1 Shrawan 2061 (16 July 2004) |
|
| 14 | 11 | 580 | Management Representation | 1 Shrawan 2061 (16 July 2004) |
|
| 15 | 13 | 260 | Communication of Audit Matters with Those Charged with Governance | 1 Magh 2061(14 January 2005) | 1 Shrawan 2065 (16 July 2008) |
| 16 | 15 | 250 | Consideration of Laws and Regulations in an Audit of Financial Statements | 1 Magh 2061(14 January 2005) | 1 Shrawan 2065 (16 July 2008) |
| 17 | 16 | 560 | Subsequent Events | 1 Magh 2061(14 January 2005) | |
| 18 | 17 | 505 | External Confirmations | 1 Magh 2061(14 January 2005) | |
| 19 | 18 | 600 | Using the work of Another Auditor | 1 Magh 2061(14 January 2005) | |
| 20 | 19 | 610 | Considering the Work of Internal Auditor | 1 Magh 2061(14 January 2005) | |
| 21 | 20 | 620 | Using the Work of an Expert | 1 Magh 2061(14 January 2005) | |
| 22 | 21 | 510 | Initial Engagements- Opening Balances | 1 Magh 2061(14 January 2005) | |
| 23 | 22 | 720 | Other Information in Documents Containing Audited Financial Statements | 1 Magh 2061(14 January 2005) | |
| 24 | 23 | 540 | Audit of Accounting Estimates | 1 Shrawan 2062 (16 July 2005 | |
| 25 | 24 | 710 | Comparatives | 1 Shrawan 2062 (16 July 2005 | |
| 26 | 25 | 550 | Related Parties | 1 Shrawan 2062 (16 July 2005 | |
| 27 | 26 | 800 | The Auditor's Report on Special Purpose Audit Engagements | 1 Shrawan 2062 (16 July 2005 | |
| 28 | 220 | Quality Control for Audit of Historical Financial Information | 1 Magh 2067 (15 January 2011) | ||
| 29 | 315 | Understanding the entity and its Environment and Assessing the Risks or Material Misstatement | 1 Magh 2067 (15 January 2011) | ||
| 30 | 330 | The Auditor's Procedures in Response to Assessed Risks | 1 Magh 2067 (15 January 2011) | ||
| 31 | 520 | Analytical Procedures | 1 Magh 2067 (15 January 2011) | ||
| 32 | 701 | Modifications to the Independent Auditor's Report | 1 Magh 2067 (15 January 2011) |
Nepal Standards on Related Services (NSREs):
| S. No. | Existing NSAs | NSAs Revised Serial Number (Effective from 2064-2-22) |
Name | Effective Date | Effective From |
|---|---|---|---|---|---|
| 01 | 27 | 4400 | Engagements to perform Agreed upon Procedures Regarding Financial Information | 1 Shrawan 2062 (16 July 2005 | |
| 02 | 28 | 2400 | Engagements to Review Financial Statements | 1 Shrawan 2062 (16 July 2005 | |
| 03 | 29 | 4410 | Engagements to Compile Financial Information | 1 Shrawan 2062 (16 July 2005) |
Guidance Note:
| S. No. | G N | Name |
|---|---|---|
| 1 | 201 | Guidance Notes on Independence of Auditors |
| 2 | 202 | Guidance Notes on Preparation of Financial Statements on Letter- Heads and Stationery of Auditors |
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