Audit Guidance Statements (AGSs)


AGSs are issued to promote best practices and provide practical assistance to professional accountants in public practice.

Professional accountants in public practice should consider the applicability of AGSs to their engagements. A professional accountant in public practice who has not applied the guidance included in a relevant AGS should be prepared to explain how:

  • the requirements in the SSAs; or
  • the basic principles and essential audit procedures in other auditing standards, addressed by the AGS, have been compiled with.
AGSDescription Last Update/Effective Date
 PrefaceDownloadMay 06
1 Sample Independent Auditor’s Reports1 DownloadMar 22
1 Sample Independent Auditor’s Reports (superseded) DownloadJun 21
2Verification of Debtor Balances – Confirmation by Direct Communication (Withdrawn on 6 October 2015)  
3Microfilm Records and their Audit Implications  (Withdrawn on 15 March 2010)  
4Existence and Valuation of Inventories in the Context of the Historical Cost SystemDownloadDec 18 (Periods beginning on or after 1 January 2018)
5Audits of Entities in Specific Industries, Professions or Vocations2DownloadNov 15 (Periods ending on or after 15 December 2016)
6Bank Reports for Audit Purposes DownloadMay 06
7Value for Money Auditing In a Statutory Board  (Withdrawn on 4 June 2015)  
8Reports on the Internal Control Procedures of Service Organisations (Withdrawn on 25 February 2015)
9Opinion on Receipts, Expenditure, Investment of Moneys and the Acquisition and Disposal of Assets by Statutory BoardsDownloadNov 19 (Periods beginning on or after 1 April 2018)
10Joint AuditsDownloadNov 15 (Periods ending on or after 15 December 2016)
11Comfort Letters and Due Diligence MeetingsDownloadDec 18 (Periods beginning on or after 1 January 2018)
12Group Audits - Inaccessibility of Component Auditors’ Work Papers and Other ConsiderationsDownloadFeb 2020
13Data Analytics in a Financial Statements AuditDownloadAug 2021
  1. ISCA has worked with the Singapore Economic Development Board (EDB) to develop an Agreed-Upon Procedures Report (AUP Report) for purposes of submission by companies of the Statements of Achievements in connection with incentives of the EDB.

    The AUP Report sets out the agreed-upon procedures which auditors are required to perform in respect of incentive conditions relating to Total Business Expenditure or Total Business Spending, Fixed Asset Investment and Employment.

    The AUP Report has been developed based on the Singapore Standard on Related Services (SSRS) 4400 Engagements to Perform Agreed-upon Procedures Regarding Financial Information and with reference to Appendix 5A of the Audit Guidance Statement (AGS) 1 Sample Independent Auditor's Reports.

    Please click
    here for the sample report.

  2. AGS 5 (Revised) is applicable with effect from 10 May 2014.

  3. Members should refer to SSAE 3402, Assurance Reports on Controls at a Service Organisation when issuing reports covering periods ending on or after 15 June 2012.