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Group Audits – AASB

Date recorded:

At its meeting on June 10-11, 2019, the AASB provided input to the IAASB members from Canada about the IAASB’s project to revise ISA 600, Special Considerations — Audits of Group Financial Statements (Including the Work of Component Auditors). The Board discussed:

  1. public interest issues;
  2. use of the risk-based approach for planning and performing an audit of group financial statements;
  3. proposed definitions of component, group financial statements and consolidation;
  4. proposed structure and scope of revised ISA 600; and
  5. proposed changes to the engagement acceptance and continuance and planning considerations.

The Board will continue to discuss this project at future meetings.

Review the executive summary on the AASB's Web site.

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