106 paragraphs found
Forms of involvement in the work of a component auditor other than those described in paragraphs 30‑31 and 42 may, based on the group engagement team’s understanding of the component auditor, include one or more of the following: Meeting with component …
… For the purposes of this Auditing Standard, the following terms have the meanings …
Where a member of the group engagement team is also a component auditor, the objective for the group engagement team to communicate clearly with the component auditor can often be achieved by means other than specific written communication. For example: …
The group engagement team’s decision as to how many components to select in accordance with paragraph 29 , which components to select, and the type of work to be performed on the financial information of the individual components selected may be affected …
… Matters required by this Auditing Standard to be communicated to the component … audit or review conducted in accordance with the Australian Auditing Standards, it is relevant for the group auditor to … basis: Significant accounting, financial reporting and auditing matters, including accounting estimates and related …
In the case of an audit of the financial information of a component, the component auditor (or group engagement team) determines performance materiality at the component level. This is necessary to reduce to an appropriately low level the probability …
… the documentation requirements of this and other Auditing Standards apply. …
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 identify a component as a significant component because that component is likely to include significant risks of material misstatement of the group financial report due to its specific nature or circumstances. In that case, …
If the group engagement team does not consider that sufficient appropriate audit evidence on which to base the group audit opinion will be obtained from: the work performed on the financial information of significant components; the work performed on …