Group Audits [Completed]

Next steps:

Once the AASOC confirms that the AASB followed due process with proper regard for the public interest, the final standard and the related conforming amendments will be issued in the CPA Handbook - Assurance in August 2022.

Effective Date:

The amendments to CAS 600 will be effective for audits of group financial statements for periods beginning on or after December 15, 2023

Last up­dated:

April 2022


The general objective of the project was to determine the nature of the IAASB’s response to issues that have been identified, relating to Group Audits, from the ISA Implementation Monitoring project and outreach activities, inspection reports from audit regulators, discussion with NSS and responses to the IAASB’s Work Plan consultation (i.e., whether standard-setting activities are appropriate to address the issues, and if so, whether specific enhancements within ISA 600 or a more holistic approach to the standard would be more appropriate).

Specifically, the project’s objective was to propose revisions to ISA 600 (i.e. CAS 600 in Canada) to strengthen the auditor’s approach to planning and performance of a group audit and clarify the interaction of ISA 600 to the other ISAs.  See the detailed Project Proposal approved by the IAASB in December 2016. 

For more in­for­ma­tion and up­dates on the IAASB’s pro­ject, visit the IAASB’s pro­ject page.


Other developments

April 2022

On April 7, 2022, the IAASB released International Standard on Auditing (ISA) 600 (Revised). The revised standard addresses special considerations that apply to audits of group financial statements (group audits). Group audits are often more complex and challenging than single-entity audits because a group may have many entities or business units across multiple jurisdictions, and component auditors may be involved. The revised standard becomes effective for audits of group financial statements for periods beginning on or after December 15, 2023.

September 2021

On September 28, 2021, the Public Company Accounting Oversight Board (PCAOB) issued a second supplemental request for comment (PDF) on its proposal to strengthen requirements that apply to audits involving multiple audit firms. Comment are requested by November 30, 2021.

May 2020

On May 11, 2020, the Auditing and Assurance Standards Board (AASB) issued an Exposure Draft proposing the adoption of ISA 600 (Revised), with appropriate Canadian amendments. Comments are requested by September 11, 2020.

April 2020

On April 27, 2020, the International Auditing and Assurance Standards Board (IAASB) released the exposure draft of proposed International Standard on Auditing (ISA) 600 (Revised), "Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)". Comments are requested by October 2, 2020.


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