SA 260 Communicating with those charged with governance Auditing standards by CA Balakrishna.

SA-260:- Communication with Those Charged with Governance

1) Management:-The person(s) with executive responsibility for the conduct of the entity’s operations. (Eg:- Executive director, CEO, CFO etc)

2) Those charged with governance(TCWG):-The person(s) or organization(s) (e.g., a corporate trustee) with responsibility for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes overseeing the financial reporting process. (Eg:- Board of Directors, Audit committee etc)

Note:- In some entities both management & TCWG could be same (or) members of management could be members of TCWG

SA 250 Compliance with laws and regulations in an audit of financial statements by CA Balakrishna Standards on auditing

SA 250:- Consideration of Laws and Regulations in an Audit of Financial Statements

Management’s responsibility for Compliance with Laws and Regulations Management, with the oversight of TCWG, is responsible for ensuring that the entity’s operations are conducted in accordance with laws and regulations.policies and procedures an entity may implement to assist in the prevention and detection of non-compliance with laws and regulations: 1)      Maintaining a register of significant …

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