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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 …
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 …