ISSAI Executive Summaries
ISSAI 1600 – Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors)
This Practice Note provides supplementary guidance on ISA 600: Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors)
Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit
Public sector external auditors
ISA 600 applies to group audits and deals with special consideration that apply to group audits, in particular those that involve component auditors.
In accordance with ISA 220 (Quality Control for an Audit of Financial Statements), 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 partner is also responsible for the direction, supervision and performance of the group audit engagement.
ISA 600 assists the group engagement partner to meet the requirements of ISA 220 where component auditors perform work on the financial information of components.
|Scope - Content:||
The Practice Note provides additional guidance for public sector auditors related to
Appendices to ISSAI 1600 provide
|Author - Committee:||
INTOSAI Professional Standards Committee – Financial Audit Subcommittee
Approved at XXth Congress of INTOSAI, Johannesburg 2010
|Related Documents - Executive Summaries:|
|Related Documents - ISSAI Full Versions:|
|Related Documents - Others:||
ISA 600 is applicable to auditors of public sector entities in their role as auditors of the group financial statements
ISA 220 - Quality Control for an Audit of Financial Statements