31386 paragraphs found
If a component is subject to audit by statute, regulation or other reason, and the group engagement team decides to use that audit to provide audit evidence for the group audit, the group engagement team shall determine whether: materiality for the …
The auditor is required to design and implement appropriate responses to address the assessed risks of material misstatement of the financial report. [9] The group engagement team shall determine the type of work to be performed by the group engagement …
If the nature, timing and extent of the work to be performed on the consolidation process or the financial information of the components are based on an expectation that group‑wide controls are operating effectively, or if substantive procedures alone …
Determining the Type of Work to Be Performed on the Financial Information of Components (Ref: Para. A47) Significant Components …
For a component that is significant due to its individual financial significance to the group, the group engagement team, or a component auditor on its behalf, shall perform an audit of the financial information of the component using component …
For a component that is significant because it is likely to include significant risks of material misstatement of the group financial report due to its specific nature or circumstances, the group engagement team, or a component auditor on its behalf, …
For components that are not significant components, the group engagement team shall perform analytical procedures at group level. …