Introduction
A group audit refers to the audit of group financial statements. Singapore Standard on Auditing (SSA) 600 Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors) lays out the requirements which group engagement teams have to follow for group audits. There have been instances where audit regulators worldwide have indicated group audits as one key area with significant audit deficiencies. Therefore, group audits present real challenges for auditors.
The purpose of this Group Audit e-learning series is to explain the requirements in SSA 600, provide an overview of the considerations involved in planning for group audits and suggest possible ways to overcome the practical challenges that auditors commonly face in group audits, through a case study of a group engagement team.
Programme Structure
A group audit can commonly be divided into three phases, namely,
planning,
execution and
completion.
ISCA’s
e-learning course on group audits comprises 6 modules.
We strongly encourage the participant to complete all 6 modules to have a comprehensive understanding in performing Group Audits.
Programme Fee
For individual module purchase, click on the title above.
For bundle purchase of 3 planning modules, click onto the link below for registration.
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For bundle purchase of all 6 modules, click onto the link below for registration.
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| Non-member Registration: | |
Programme Outline
- Module 1: Group Audit – Planning (Part 1)
- What is group audit
- Different terms used in group audits
- Key considerations in the acceptance and continuance of group audit engagements, including the need to understand the group’s businesses and structure
- How a risk assessment should be performed
- How significant components should be identified
- Module 2: Group Audit – Planning (Part 2)
- Understanding the component auditor
- Group materiality and allocation of materiality
- Logistical considerations
- Determining extent of involvement of the work performed by component auditors
- Module 3: Group Audit – Planning (Part 3)
- Group audit instructions
- Reporting deliverables from component auditors
- Module 4: Group Audit – Execution
- Review of audit working papers and documentation
- Audit of the consolidation process
- Module 5: Group Audit – Completion
- Review of subsequent events
- Evaluating the sufficiency and appropriateness of audit evidence obtained
- Communication with group management and those charged with corporate governance
- Key financial statement reporting and disclosure requirements
- Documentation requirements
- Module 6: Group Audit – Common Issues
- Common issues encountered during group audit engagements
- Practical ways to manage these common issues