This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Heads Up — U.S. Regulatory and Standard-Setting Activities Related to Group Audits

Published on: Oct 15, 2021

In today’s global economy, many U.S. companies have significant operations in foreign jurisdictions, including in emerging markets, and many multinational companies domiciled in foreign jurisdictions are listed on U.S. securities exchanges. Such cross-border operations pose unique challenges for members of the financial ecosystem (e.g., companies, investors, auditors, and regulators) because of a number of factors — including a myriad of laws and regulations, access to information, the ability to conduct oversight, and different professional standards. As a result, auditing standard setters have added group audits to their agendas and have ongoing projects to revise their standards, with the goal of improving audit quality. The United States is also strengthening regulatory oversight of U.S.-listed companies that are based in emerging markets, as well as of those companies’ external auditors. Therefore, it is important for multinational companies listed in the United States to remain aware of recent regulatory and standard-setting activities and to understand their impact on the environment in which the companies operate.  This Heads Up discusses recent activities related to group audits.

This publication was released by our US firm.

Download

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.