Documentation (Ref: Para. 59)Documentation (Ref: Para. 59)

Documentation (Ref: Para. 59)

1. Other ASAs contain specific documentation requirements that are intended to clarify the application of ASA 230 in the particular circumstances of those other ASAs. The Appendix to ASA 230 lists other ASAs that contain specific documentation requirements and guidance.
2. The audit documentation for the group audit supports the group auditor’s evaluation in accordance with paragraph 51 as to whether sufficient appropriate audit evidence has been obtained on which to base the group audit opinion. Also see paragraph A154.
3. The audit documentation for the group audit comprises:

• The documentation in the group auditor’s file; and
• The separate documentation in the respective component auditor files relating to the work performed by the component auditors for purposes of the group audit (i.e., component auditor audit documentation).

1. The final assembly and retention of the audit documentation for a group audit is subject to the policies or procedures of the group auditor’s firm in accordance with ASQM 1.[94] The group auditor may provide specific instructions to component auditors regarding the assembly and retention of the documentation of work performed by them for purposes of the group audit.

Basis for the Group Auditor’s Determination of Components (Ref: Para: 59(b))

1. The basis for the group auditor’s determination of components may be documented in various ways, including, for example, documentation related to the fulfillment of the requirements in paragraphs 22, 33 and 57(a) of this ASA.

Basis for the Group Auditor’s Determination of the Competence and Capabilities of Component Auditors (Ref: Para: 59(d))

1. ASQM 1[95] provides guidance on matters that the firm’s policies or procedures may address regarding the competence and capabilities of the engagement team members. Such policies or procedures may describe or provide guidance about how to document the determination of the competence and capabilities of the engagement team, including component auditors. For example, the confirmation obtained from the component auditor in accordance with paragraph 24 may include information about the component auditor’s relevant industry experience. The group auditor also may ask for confirmation that the component auditor has sufficient time to perform the assigned audit procedures.

Documentation of the Direction and Supervision of Component Auditors and the Review of Their Work (Ref: Para. 59(f))

1. As described in paragraph A75, the approach to direction, supervision and review in a group audit will be tailored by the group auditor based on the facts and circumstances of the engagement, and will generally include a combination of addressing the group auditor’s firm policies or procedures and responses specific to the group audit. Such policies or procedures may also describe or provide guidance about the documentation of the group auditor’s direction and supervision of the engagement team and the review of their work.