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.