ICAI revised SA-700: What changes in audit reports from FY 2025-26

KAMRIT runs audit engagements end to end with senior expert accountability and transparent fixed-fee pricing across India.

What changed

ICAI revised SA-700 audit report standard explained: new sections, KAM disclosure changes, and the practical impact on Indian statutory audits. The notification was released earlier this month. KAMRIT clients across Delhi, Noida, Mumbai, Bengaluru, Hyderabad, and Chennai have started incorporating the change into the current quarter's compliance cycle.

Operational impact

The practical effect for most Indian businesses is in three places: documentation that needs to be maintained contemporaneously, filings that need to reflect the new position from a specific effective date, and audit working papers that need to capture the revised treatment. KAMRIT engagements over the last quarter have made this transition under monthly retainers without any client-side workload.

Edge cases to watch for

The notification has a handful of carve-outs that the underlying primary law leaves ambiguous. Where the position turns on the specific facts of the business, KAMRIT documents the position with a written memo and a contemporaneous reconciliation, so the file holds up under future scrutiny.

The compliance calendar going forward

The next due date that this change impacts falls in the current quarter. KAMRIT clients on monthly retainers receive a written close pack covering every regulator, every form, and every transaction. If your business is not on a retainer, KAMRIT also offers one-off remediation engagements priced as a fixed fee.

Talk to a senior expert

If this notification affects your business and you want a written view, send a quick brief to KAMRIT. A senior partner replies within one business day with a position memo and a fixed-fee quote if remediation is required. Browse the full Audit services catalogue for related capabilities.