1. Group Audits
ISA 600

2. Component Auditors
No reason for not relying on them is apparent

3. Component Auditors
Can rely on their work
Adequate skill & care
Capable & Competent
No reason for not relying on them is apparent

4. Getting to know the..
component auditor
Any results Visit &
from QUALITY Ask Professional
get matters confirmed
Others body confirmation
CONTROL monitoring in writing

5. Auditor
& Consolidation
FR Tax Going Concern
Identifying Reportable Segments
Deferred tax issues on Sub in difficulty supported by
Identifying Related Parties consolidation adjustments group
Accounting Policies Group Tax relief Letter of support from group
Tax avoidance schemes directors
Different Year ends
Translating foreign Subs

6. Auditor
& Consolidation
FR Tax Going Concern
Identifying Reportable Segments
Deferred tax issues on Sub in difficulty supported by
Identifying Related Parties consolidation adjustments group
Accounting Policies Group Tax relief Letter of support from group
Tax avoidance schemes directors
Different Year ends
Translating foreign Subs

7. Auditor
& Consolidation
FR Tax Going Concern
Identifying Reportable Segments
Deferred tax issues on Sub in difficulty supported by
Identifying Related Parties consolidation adjustments group
Accounting Policies Group Tax relief Letter of support from group
Tax avoidance schemes directors
Different Year ends
Translating foreign Subs

8. Auditor
& Consolidation
FR Tax Going Concern
Identifying Reportable Segments
Deferred tax issues on Sub in difficulty supported by
Identifying Related Parties consolidation adjustments group
Accounting Policies Group Tax relief Letter of support from group
Tax avoidance schemes directors
Different Year ends
Translating foreign Subs

9. Transnational audits

10. Transnational audits
Audit outside
home jurisdiction

11. Transnational Audits
What needs to be considered?

12. Transnational Audits
What needs to be considered?
Values
& Cultural
differences

13. Transnational Audits
What needs to be considered?
Values Component
& Cultural
Auditors
differences

14. Transnational Audits
What needs to be considered?
Values Component Scope
& Cultural
Auditors differences
differences

15. Transnational Audits
What needs to be considered?
Values Component Scope Reporting
& Cultural
Auditors differences Frameworks
differences

16. Specific Differences

17. Specific Differences
Listing Requirements
Sub bound too!

18. Specific Differences
Listing Requirements FR & Audit
Subs standards adjusted
Sub bound too! to same as parent

19. Transnational Audit Committee

20. Transnational Audit Committee
What’s it do?
Identifies Practice Issues
Recommend to IFAC & IAASB
Proposes members to IFAC liaison
group
Identifies candidates for IFAC
boards
Conduit between big 4 &
Regulators on quality &
compliance issues

21. Transnational Audit Committee

22. Transnational - other issues
Movement of
goods
Big firms
Co-op Firms

23. Transnational - Current Issues

24. Transnational - Current Issues
AUDIT FIRMS MERGING

25. Transnational - Current Issues
AUDIT FIRMS MERGING
AUDIT FIRM HIERARCHY

26. Transnational - Current Issues
AUDIT FIRMS MERGING OTHER SERVICES PROVIDED
AUDIT FIRM HIERARCHY