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Auditing in a group context

Group audits have been the focus of much international commentary in recent times and this has led to new EU requirements and the IAASB’s revised ISA 600.

Attention has also been paid to these matters in the UK, by the Financial Reporting Council, for example as part of its Choice in the UK Audit Market project, and in the recent reports from the Professional Oversight Board and the Audit Inspection Unit based on the findings from audit inspections.

The new guide describes special considerations at each stage of the group audit cycle and provides suggestions to auditors. Our aim is to provide both group auditors and component auditors with practical help that will allow them to evolve their practices in the various stages of the cycle. The guide also covers the new European requirements and looks ahead so that firms can prepare for the UK adoption of the IAASB’s ISA 600.