165 paragraphs found
The Australian Auditing Standards apply to group audits. This Auditing Standard deals with special considerations that apply to group audits, in particular those that involve component …
This Auditing Standard also applies, as appropriate, when the auditor involves other auditors in the audit of financial reports that are not group financial reports. For example, an auditor may involve another auditor to observe the inventory count or …
A component auditor may be required by statute, regulation or for another reason, to express an audit opinion on the financial report of a component. The group engagement team may decide to use the audit evidence on which the audit opinion on the …
In accordance with ASA 220, [1] the group engagement partner is required to be satisfied that those performing the group audit engagement, including component auditors, collectively have the appropriate competence and capabilities. The group engagement …
The group engagement partner applies the requirements of ASA 220 regardless of whether the group engagement team or a component auditor performs the work on the financial information of a component. This Auditing Standard assists the group engagement …
Audit risk is a function of the risk of material misstatement of the financial report and the risk that the auditor will not detect such misstatements. [2] In a group audit, this includes the risk that the component auditor may not detect a misstatement …
See ASA 220 Quality Control for an Audit of a Financial Report , paragraphs 14 and 15 . …
See ASA 200 Overall Objectives of the Independent Auditor, and the Conduct of an Audit in Accordance with Australian Auditing Standards , paragraph A32 …
The group engagement partner is responsible for the direction, supervision and performance of the group audit engagement in compliance with professional standards and applicable legal and regulatory requirements, and whether the auditor’s report that is …