ICAI Council approves revisions in auditing standard SA 600

New Delhi, Dec 11, 2025

Chartered accountants' apex body ICAI's Central Council has cleared revisions to the auditing standard SA 600 pertaining to group audits amid the institute and regulator NFRA being on different parts on the applicability of the standard.

The Standard on Auditing (SA) 600 is applicable in the case of the audit of companies which have subsidiaries and associates. Broadly, the holding company is audited by a principal or main auditor and the subsidiaries and/or associates by other or component auditors.

While the National Financial Reporting Authority (NFRA) has mooted changes to the standard, citing several cases of corporate fraud and audit failures/deficiencies in recent times, the Institute of Chartered Accountants of India (ICAI) is of the view that the revision could adversely impact small and medium CA (Chartered Accountant) firms.

[Press Trust of India]