Audit of Financial Statements is an inspection-aware practitioner's manual that translates the Standards on Auditing, the Companies Act 2013, CARO 2020 and Indian Accounting Standards into a single, risk-driven audit methodology. The 5th Edition maps AQMM v2 documentation expectations and operationalises NFRA's toolkits, RoMM templates and the January 2026 Circular on SA 260 & SA 265 into procedures, checklists and working papers. Every audit step is linked to an identified risk through the SA 315 → SA 330 chain, with CARO 2020 reporting and Schedule III (Division 1) disclosures integrated within each substantive chapter, alongside new Labour Code implications, model accounting policies and illustrative audit reports. Authored by CA. Pranav Jain, the book equips chartered accountants, engagement teams and audit committees to build defensible, inspection-ready audit files.
