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ASA 600 - Special Considerations – Audits of a Group Financial Report (Including the Work of Component Auditors) - October 2009
Components Subject to Audit by Statute, Components Subject to Audit by Statute, Regulation or Other Reason (Ref: Para. 3)
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Components Subject to Audit by Statute, Regulation or Other Reason (Ref: Para. 3)
- Factors that may affect the group engagement team’s decision whether to use an audit required by statute, regulation or for another reason to provide audit evidence for the group audit include the following:
- Differences in the financial reporting framework applied in preparing the financial report of the component and that applied in preparing the group financial report.
- Differences in the auditing and other standards applied by the component auditor and those applied in the audit of the group financial report.
- Whether the audit of the financial report of the component will be completed in time to meet the group reporting timetable.