Appropriately considered whether to accept or continue a group audit engagement based on whether the group AU-C GR-15a auditor will be able to obtain sufficient appropriate audit evidence through the group work or the use of the auditor’s work of component auditors? Established and approved an overall group audit strategy and group audit plan including an assessment of the extent to AU-C GR-15b which the work components auditors’ would be used and whether the report would make reference to the component auditor's work? Gained a sufficient understanding of the AU-C GR-15c group, the components, and environment? Gained sufficient understanding of the component auditor(s) to determine (1) whether the component auditor(s) understands and will comply with the ethical requirements that are relevant to the group audit and is independent, (2) a professional component auditor’s competence, (3) the extent, if any, to AU-C GR-15d which the group auditor will be able to be involved in the work of the component auditor, (4) whether the group auditor will be able to obtain information from the component auditor(s), and (5) whether a component auditor(s) operates in a regulatory environment that actively oversees auditors? Made appropriate materiality GR-15e AU-C 600.32 considerations? Designed and implemented appropriate responses to address the assessed risks of AU-C GR-15f material misstatement and performed further audit procedures as required for the consolidation process?
GR-15a Appropriately considered whether to accept or continue a group audit engagement based on whether the group auditor will be able to obtain sufficient appropriate audit evidence through the group auditor’s work or the use of the work of component auditors? AU-C GR-15b Established and approved an overall group audit strategy and group audit plan including an assessment of the extent to which the components auditors’ work would be used and whether the report would make reference to the component auditor's work? AU-C GR-15c Gained a sufficient understanding of the group, the components, and environment? AU-C GR-15d Gained sufficient understanding of the component auditor(s) to determine (1) whether the component auditor(s) understands and will comply with the ethical requirements that are relevant to the group audit and is independent, (2) a component auditor’s professional competence, (3) the extent, if any, to which the group auditor will be able to be involved in the work of the component auditor, (4) whether the group auditor will be able to obtain information from the component auditor(s), and (5) whether a component auditor(s) operates in a regulatory environment that actively oversees auditors? AU-C GR-15e Made appropriate materiality considerations? AU-C 600.32 GR-15f Designed and implemented appropriate responses to address the assessed risks of material misstatement and performed further audit procedures as required for the consolidation process? AU-C
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