31386 paragraphs found
The group engagement team’s assessment at group level of the risks of material misstatement of the group financial report is based on information such as the following: Information obtained from the understanding of the group, its components, and their …
Group Engagement Team’s Procedures to Obtain an Understanding of the Component Auditor and Sources of Audit Evidence (Ref: Para. 19) …
The nature, timing and extent of the group engagement team’s procedures to obtain an understanding of the component auditor are affected by factors such as previous experience with or knowledge of the component auditor, and the degree to which the group …
These factors interact and are not mutually exclusive. For example, the extent of the group engagement team’s procedures to obtain an understanding of Component Auditor A, who consistently applies common quality control and monitoring policies and …
The group engagement team may obtain an understanding of the component auditor in a number of ways. In the first year of involving a component auditor, the group engagement team may, for example: Evaluate the results of the quality control monitoring …
Where independent oversight bodies have been established to oversee the auditing profession and monitor the quality of audits, awareness of the regulatory environment may assist the group engagement team in evaluating the independence and competence of …
Ethical Requirements that Are Relevant to the Group Audit (Ref: Para. 19(a)) …
When performing work on the financial information of a component for a group audit, the component auditor is subject to ethical requirements that are relevant to the group audit. Such requirements may be different or in addition to those applying to the …