Microsoft Word A033 2010 iaasb handbook isa 600

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ISA 600 

 

577

AU

DI

TI

NG

 

INTERNATIONAL STANDARD ON AUDITING 600 

SPECIAL CONSIDERATIONS—AUDITS OF GROUP 

FINANCIAL STATEMENTS (INCLUDING THE WORK OF 

COMPONENT AUDITORS) 

(Effective for audits of group financial statements for periods  

beginning on or after December 15, 2009) 

CONTENTS 

Paragraph 

Introduction

 

Scope of this ISA  ......................................................................................  

1

−

6 

Effective Date  ...........................................................................................  

7 

Objectives

  ................................................................................................  

8 

Definitions

  ................................................................................................  

9

−

10 

Requirements 

Responsibility  ...........................................................................................  

11 

Acceptance and Continuance  ....................................................................  

12

−

14 

Overall Audit Strategy and Audit Plan  .....................................................  

15

−

16 

Understanding the Group, Its Components and Their Environments  .......  

17

−

18 

Understanding the Component Auditor  ....................................................  

19

−

20 

Materiality  ................................................................................................  

21

−

23 

Responding to Assessed Risks  ..................................................................  

24

−

31 

Consolidation Process  ...............................................................................  

32

−

37 

Subsequent  Events   ....................................................................................  

38

−

39 

Communication with the Component Auditor  ..........................................  

40

−

41 

Evaluating the Sufficiency and Appropriateness of Audit Evidence  

Obtained  ............................................................................................  

42

−

45 

Communication with Group Management and Those Charged with  

Governance of the Group ...................................................................  

46

−

49 

Documentation  ..........................................................................................  

50