Perception of Chartered Accountants (CAs) and Students pursuing Chartered Accountancy course on select variables concerning key audit procedures are main area of study of this current paper. There are several audit procedures in an audit engagement. A few significant procedures are audit engagement, audit planning, audit sampling and audit documentation. The Institute of Chartered Accountants of India (ICAI) issued separate standards for these 4 issues. Based on those standards and consultation of practicing CAs, 19 variables have been identified which are related to any one of those 4 aspects. Opinions of 227 CAs and 146 Students on these issues have been collected and empirically analysed. The findings suggest that respondents asserts different provisions of respective SAs and do not question their sufficiency. However, their appropriate implementation should be achieved. As CAs obtain an edge over the students in terms of their professional experience, their opinions to the select variables are not same as that of the Students.