Section The Group’s Process to Monitor the Syste - Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) - The Group’s Process to Monitor the System of Internal Control | Zoe
Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors)
The Group’s Process to Monitor the SysteThe Group’s Process to Monitor the System of Internal Control
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The Group’s Process to Monitor the System of Internal Control
The group auditor’s understanding of the group’s process to monitor the system of internal control may include matters such as monitoring of controls, including how the controls are monitored across the group and, when relevant, activities of the internal audit function across the group, including its nature, responsibilities and activities in respect of monitoring of controls at entities or business units in the group. ASA 610[98] requires the auditor to evaluate the extent to which the internal audit function’s organisational status and relevant policies and procedures support the objectivity of internal auditors, the level of competence of the internal audit function, and whether the internal audit function applies a systematic and disciplined approach, including quality control.