Procedure for issue of Auditing & Assurance Standards, Statements & General Clarifications by Auditing & Assurance Standards Board (AASB)

Backgruound:-

ICAI constituted Auditing Process Committee on 17^th Sep 1982, later renamed as Auditing and Assurance and Standards Board (AASB) at its 226^th meeting held in july 2002, to renewed the existing Auditing Practices in India & to develop Auditing and Assurance Standards (AAS). So that, these may be issued under the authority of the council of Institute. Since, ICAI is one of the