ISCA Audit Manual for Standalone Entities

The Institute of Singapore Chartered Accountants (the Institute) is pleased to publish the ISCA Audit Manual for Standalone Entities (Manual).

About this Manual:

The Manual shall be read in conjunction with the Singapore Companies Act (Cap. 50), the applicable Singapore Standards on Auditing (SSAs), the applicable Singapore Financial Reporting Standards (FRSs) and any other regulatory requirements that are deemed appropriate. The contents in this Manual are not substitutes for reading the SSAs but rather as a supplement to support consistent application of these standards. 

This Manual is an illustrative guidance to assist auditing professionals in carrying out audits of a complete set of general purpose financial statements of Singapore incorporated standalone entities. The Manual is intended to help auditing professionals understand and effectively apply the SSAs on such audits. In the performance of their professional duties, it remains incumbent on them to exercise their professional judgment or seek independent professional advice and verification if necessary.

Important notices:

  • By adopting this Manual, the auditing professional has agreed to the Terms of Use of this Manual.
  • Due to the inherent dynamic nature of an audit of a complete set of general purpose financial statements, the use of the Manual, in whole or in part, shall not be presumed to assure compliance with the requirements expected and shall not be relied upon as containing, professional or expert advice.
  • Every audit engagement is different and the audit programs provided in this Manual shall be tailored to the circumstances of individual engagements before use.
  • All contents in this Manual are based on the SSAs in place as at November 2020. SSAs issued by the Institute after November 2020 are not incorporated in this Manual. It is the responsibility of the auditing professionals to ensure that they are using the most up-to-date standards and/or guidance available at the ISCA Knowledge Centre.

Please click here for more information on the Licence Fees for the Use of the ISCA Audit Manual for Standalone Entities in Electronic Form (hereafter referred to as the “Licensed Materials”).

NEW: ISCA AMSE Version 1.3.1

The ISCA Audit Manual for Standalone Entities (ISCA AMSE) was first issued on 28 October 2016. It was last updated in December 2020 to enhance its relevance and usefulness to the profession.

The following audit programmes have been updated to Version 1.3.1 and are effective with immediate effect from their issuance date on 22 January 2021: 

  • Guidance Notes
  • B1.3
  • C4

There are no updates to the remaining audit programmes, and they will remain as Version 1.3.  

Key Changes

Working paper referenceWhat has changed?
Guidance Notes 
(Pages 5 & 6)

Incorporated guidance notes in relation to the SSA 540  Auditing Accounting Estimates and Related Disclosures effective for audits of financial statements for periods beginning on or after 15 December 2019.


Revised Engagement letter template to include a new paragraph on auditors’ responsibilities in relation to  Responding to Non-Compliance with Laws and Regulations (NOCLAR) under the EP 100  Code of Professional Conduct and Ethics.


Slight amendments to Section 8(k) and 8(o) to enhance clarity.


ISCA Audit Manual for Standalone Entities is now available for download for all ISCA Members on a complimentary basis.