INTRODUCTION
One of the standards that saw significant changes when the Clarified
Standards were issued is ISA 600 on the auditor’s responsibility for
group financial statements, including considerations when working
with components and component auditors. Many best practices in the
past relating to group audits have now become explicit requirements
as a result of the change to this standard. The revised and redrafted
ISA 600 also places enhanced responsibility on the group engagement
team/partner, from accepting a group audit engagement, group-wide
risk assessment & planning, obtaining sufficient & appropriate audit
evidence and group reporting.
