Understanding the Responsibilities of Auditors for Audits of Group Financial Statements - Audit Risk Alert
This Audit Risk Alert is intended to help auditors understand and implement the requirements of the new AU-C section 600, Statement on Auditing Standards - Special Considerations - Audits of Group Financial Statements (Including the Work of Component Auditors)
It was developed to present issues that auditors may face in their current audits; focusing on emerging practice issues and current auditing developments.
The new AU-C section 600 is much more broad than previous guidance and introduces a number of new terms, concepts, and requirements related to group audits that will significantly affect current practice.
To assist auditors in implementing the provisions of AU-C section 600, this alert includes a variety of useful resources including:
- Technical Questions & Answer sections
- An analysis of applicability
- A breakdown of new terminology
- An exploration of how practice will be affected
- Special considerations for state and local governments
- Implementation case studies
This alert has been updated for the issuance of SAS No. 127, Omnibus Statement on Auditing Standards.
Information about the eBook option
If purchasing this title as an eBook, please note that it is intended for a single user. An eBook is a downloadable file that will be accessible immediately after completing your purchase. Access to the download link expires 180 days from the purchase date. Download the file before this time elapses. Before downloading your eBook, you must:
- Download and activate Adobe Digital Editions®- a free program for accessing eBooks
- Return to the AICPA Store and go to My Account > My Downloads
- Click the eBook title to download and open automatically in Adobe Digital Editions
Note: To access your eBook on a smartphone, tablet or other reading device, see our FAQ. This product is refundable within 10 days of your purchase date. For more information about this product or service concerns, please contact the AICPA Store Service Center at email@example.com or call 888-777-7077.
Information about the online subscription option
Online Subscription > AICPA Online Professional Library Your subscription includes content updates and unlimited online access for 1 year. AICPA Online Professional Library - your source for the latest guidance, information, and standards on a variety of accounting & auditing, industry-specific, and practice management topics. Subscribe to the product, bundle, or library that best meets your organization's needs. Click here for more information.