Group Audits     ISA 600
Component AuditorsNo reason for not relying on them is apparent
Component Auditors                   Can rely on their work                   Adequate skill & care                   Capa...
Getting to know the..                            component auditor    Any results           Visit &  from QUALITY         ...
Auditor       & Consolidation           FR                           Tax                      Going ConcernIdentifying Rep...
Auditor       & Consolidation           FR                           Tax                      Going ConcernIdentifying Rep...
Auditor       & Consolidation           FR                           Tax                      Going ConcernIdentifying Rep...
Auditor       & Consolidation           FR                           Tax                      Going ConcernIdentifying Rep...
Transnational audits
Transnational audits           Audit outside         home jurisdiction
Transnational AuditsWhat needs to be considered?
Transnational Audits              What needs to be considered?Values& Culturaldifferences
Transnational Audits                  What needs to be considered?Values        Component& Cultural                Auditor...
Transnational Audits                  What needs to be considered?Values        Component                 Scope& Cultural ...
Transnational Audits                  What needs to be considered?Values        Component                 Scope        Rep...
Specific Differences
Specific DifferencesListing Requirements   Sub bound too!
Specific DifferencesListing Requirements                             FR & Audit                                            ...
Transnational Audit Committee
Transnational Audit Committee                              What’s it do?                                  Identifies Practi...
Transnational Audit Committee
Transnational - other issues       Movement of         goods         Big firms       Co-op Firms
Transnational - Current Issues
Transnational - Current IssuesAUDIT FIRMS MERGING
Transnational - Current Issues         AUDIT FIRMS MERGINGAUDIT FIRM HIERARCHY
Transnational - Current Issues         AUDIT FIRMS MERGING                              OTHER SERVICES PROVIDEDAUDIT FIRM ...
Upcoming SlideShare
Loading in …5
×

P7 group audits

786 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
786
On SlideShare
0
From Embeds
0
Number of Embeds
6
Actions
Shares
0
Downloads
22
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • P7 group audits

    1. 1. Group Audits ISA 600
    2. 2. Component AuditorsNo reason for not relying on them is apparent
    3. 3. Component Auditors Can rely on their work Adequate skill & care Capable & CompetentNo reason for not relying on them is apparent
    4. 4. Getting to know the.. component auditor Any results Visit & from QUALITY Ask Professional get matters confirmed Others body confirmationCONTROL monitoring in writing
    5. 5. Auditor & Consolidation FR Tax Going ConcernIdentifying Reportable Segments Deferred tax issues on Sub in difficulty supported byIdentifying Related Parties consolidation adjustments groupAccounting Policies Group Tax relief Letter of support from group Tax avoidance schemes directorsDifferent Year endsTranslating foreign Subs
    6. 6. Auditor & Consolidation FR Tax Going ConcernIdentifying Reportable Segments Deferred tax issues on Sub in difficulty supported byIdentifying Related Parties consolidation adjustments groupAccounting Policies Group Tax relief Letter of support from group Tax avoidance schemes directorsDifferent Year endsTranslating foreign Subs
    7. 7. Auditor & Consolidation FR Tax Going ConcernIdentifying Reportable Segments Deferred tax issues on Sub in difficulty supported byIdentifying Related Parties consolidation adjustments groupAccounting Policies Group Tax relief Letter of support from group Tax avoidance schemes directorsDifferent Year endsTranslating foreign Subs
    8. 8. Auditor & Consolidation FR Tax Going ConcernIdentifying Reportable Segments Deferred tax issues on Sub in difficulty supported byIdentifying Related Parties consolidation adjustments groupAccounting Policies Group Tax relief Letter of support from group Tax avoidance schemes directorsDifferent Year endsTranslating foreign Subs
    9. 9. Transnational audits
    10. 10. Transnational audits Audit outside home jurisdiction
    11. 11. Transnational AuditsWhat needs to be considered?
    12. 12. Transnational Audits What needs to be considered?Values& Culturaldifferences
    13. 13. Transnational Audits What needs to be considered?Values Component& Cultural Auditorsdifferences
    14. 14. Transnational Audits What needs to be considered?Values Component Scope& Cultural Auditors differencesdifferences
    15. 15. Transnational Audits What needs to be considered?Values Component Scope Reporting& Cultural Auditors differences Frameworksdifferences
    16. 16. Specific Differences
    17. 17. Specific DifferencesListing Requirements Sub bound too!
    18. 18. Specific DifferencesListing Requirements FR & Audit Subs standards adjusted Sub bound too! to same as parent
    19. 19. Transnational Audit Committee
    20. 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. 21. Transnational Audit Committee
    22. 22. Transnational - other issues Movement of goods Big firms Co-op Firms
    23. 23. Transnational - Current Issues
    24. 24. Transnational - Current IssuesAUDIT FIRMS MERGING
    25. 25. Transnational - Current Issues AUDIT FIRMS MERGINGAUDIT FIRM HIERARCHY
    26. 26. Transnational - Current Issues AUDIT FIRMS MERGING OTHER SERVICES PROVIDEDAUDIT FIRM HIERARCHY

    ×