Audit and assurance alert: Exposure draft on CAS 600 for group audits

Learn about the change proposed to CAS 600, Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors), and the timeline to respond to the recently issued exposure draft (ED).

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This alert raises awareness about the recent ED issued by the Auditing and Assurance Standards Board (AASB) in May 2020, highlighting significant changes in group audits.

The ED impacts all auditors who perform group audits. Practitioners are strongly encouraged to read this alert along with the ED to familiarize themselves with the proposed changes and to consider and provide feedback directly to the International Auditing and Assurance Standards Board (IAASB) and the AASB on how these changes will be applied in practice.

Comments to both the IAASB and AASB must be received by October 2, 2020. If you would like your response letter to be considered by the AASB in drafting its own response to the IAASB's Exposure Draft, please submit it early, by September 11, 2020.