Group audits
The audit of group financial statements is an area frequently examined in the Advanced Audit and Assurance examination. It can be tested at any stage of the audit cycle and therefore in any section of the examination. It is important that candidates are able to identify risks arising from aspects of group audits and the responsibility of auditors in this regard. This podcast focuses on the key areas of group audit, highlighting sections of ISA 600, Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors). Candidates should be familiar with the standard prior to sitting the Advanced Audit and Assurance exam.