SA Memory Tip



1.      SA 200 – Overall Objectives Of The Independent Auditor And The Conduct Of An Audit In Accordance With Standards On Auditing
MEMORY TIP :- There are TWO O in the beginning of the name. Thus TWO OO i.e. 200.

2.      SA 250 – Consideration Of Laws And Regulations In An Audit Of Financial Statements
MEMORY TIP :- Audit of Companies Registered Under section 25 of the Companies Act, 1956.

3.      SA 320 – Materiality In Planning And Performing An Audit
MEMORY TIP :- Everyone have 32 teeth to eat any MATERIAL.

SA 330 – The Auditor’s Responses To Assessed Risks
MEMORY TIP :- Divide the name into two parts
               Part 1 – The Auditor’s Responses
               Part 2 - To Assessed Risks

4.      SA 402 – Audit Considerations Relating To An Entity Using A Service Organisation.
MEMORY TIP :- Section 420 of Indian Penal Code is for Forgery & Fraud etc. i.e. Chori
But the SA number is 402, thus Memory Tip (in HINDI) is Service Organisation thik se chor bhi nahi hai.

5.      SA 450 – Evaluation Of Misstatements Identified During The Audit
MEMORY TIP :- 45 Years of Principal (Sir) has identified the misstatements during the audit.

6.      SA 500 – Audit Evidence
MEMORY TIP :- Rs. 500 Currency note is an audit evidence.
7.      SA 501 – Audit Evidence – Specific Considerations For Selected Items
MEMORY TIP :- SA 501 is one step ahead of SA 500.

8.      SA 550 :- Related Parties
MEMORY TIP – Five fingures of one hand are totally related to five fingures of other hand.

Note – before starting SAs 600 series, these series are designed for “USING THE WORK OF OTHERS”
9.      SA 610 :- Using The Work Of An Internal Auditor
MEMORY TIP – In Number SA 610, 1 is resembles as I, I for Internal Auditor.

10.   SA 620 :- Using The Work Of An Auditor’s Expert
MEMORY TIP – 420 + 200. An Auditor Expert is 420 first of all.

11.   SA 700 :- Forming an Opinion And Reporting On Financial Statements
MEMORY TIP :- you might have watched James Bond movie(s). His Number is 007.

700 is just opposite of 007. The Memory Tip is James Bond has formed ulta pulta opinion.