Groups - Practical Implementation Issues with ISA 600 (Revised)

Objectives

This webinar will provide attendees with a practical approach to auditing groups applying the latest requirements in ISA 600 (UK) Revised, which involve increased responsibilities for the group auditor. This will support auditors in effectively planning, communicating with component auditors and performing a robust risk assessment to ensure the audit procedures obtain sufficient appropriate audit evidence to draw conclusions.

Key topics

• Practical guidance in identifying components within a group
• Understanding the group auditor’s responsibilities
• The importance of two-way communication with component auditors and the impact on the group audit engagement
• Using component auditors within a network of firms
• The risk assessment process on the engagement, including the consolidation
• Understanding the nature and extent of commonality of controls
• Considerations for the group audit report
• Common challenges with group audits
• Practical guidance and documentation requirements where group auditor is also the component auditor

Who should attend

Partners, directors, managers and seniors involved in the audit engagements of group financial statements, who need to be technically up to date.