Following public consultation, IAASA has issued a revised version of ISA (Ireland) 600 Special Considerations – Audits of Group Financial Statements (Including the
Work of Component Auditors) and conforming amendments.
The main changes to the standard relate to:
- Clarification of its scope and the links to other ISAs
- Adoption of a risk-based approach
- Quality management
- Communication and Documentation
- Professional Skepticism
- Scalability & component auditor involvement
The revised standard is effective for audits of financial statements for periods beginning on or after 15 December 2023, with early adoption permitted.
For details please click here