Group Audits: Who is Responsible for What?

Overview

Financial statement audits often involve audits of components of a larger entity. This course will focus on the responsibilities for both the group auditor and component auditor, including implementation of SAS No. 149 relate to group audits.

Objectives

• Recognize the extended professional responsibilities for an audit of group financial statements
• List changes to group audits as a result of SAS No. 149 

Highlights

• Responsibilities of the group audit engagement team, including the group engagement partner
• Clarifying roles and responsibilities of component auditors and reference auditors in audits of group financial statements
• Special considerations on audit planning and audit reporting in a group audit