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Group Audits – AASB

Date recorded:

At its meeting on September 11-12, 2021, the AASB discussed issues related to the IAASB’s project to revise ISA 600, Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors). Key issues discussed included:

  1. the need for guidance on using audit evidence from an audit conducted for statutory purposes, whether already completed or being performed; and
  2. how the group auditor determines whether, and to what extent, to review parts of the component auditor audit documentation.

The IAASB is expected to approve ISA 600 (Revised) at its December 2021 meeting. The AASB would approve CAS 600 in early 2022.

Review the Executive Summary on the AASB's Web site.

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