The document discusses considerations for group audits and transnational audits. For group audits, component auditors can be relied upon if they are competent and no issues have been identified. The group auditor needs to understand consolidation, tax, and going concern issues relating to subsidiaries. For transnational audits, auditors must consider cultural and regulatory differences between jurisdictions. Value differences, component auditor competency, reporting frameworks, and listing requirements all need to be evaluated. Current issues include large audit firms merging and the hierarchy within international audit networks.