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Audit & Assurance Alert CAS 600: Revised standard coming into effect

This Audit & Assurance Alert is being issued to raise awareness about the revised Canadian Auditing Standard (CAS) 600, Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors).

The scope of audits that are considered group audits has changed. This Alert informs practitioners of the significant changes in CAS 600. Practitioners should refer to CAS 600 for full details of all the requirements, as this Alert does not address all aspects of CAS 600.

Read this document to learn of the significant changes such as:

  • whether the standard is applicable for your audit
  • how the standard can be adapted to groups of varying complexity
  • how the standard links with other Canadian Auditing Standards when the audit is planned and performed
  • how the group auditor communicates and interacts with component auditors
  • how the auditor manages audit quality at the group and component level