Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Group audits can be challenging, particularly when multiple components, locations, systems and audit teams are involved. Revised CAS 600 introduced a more risk-based approach to planning and performing group audits, with greater emphasis on the group auditor’s responsibility for identifying and assessing risks, determining where audit work should be performed, and directing, supervising and reviewing the work of component auditors.
Topics include identifying components, establishing component performance materiality through a 5-step approach, understanding the group and its system of internal control, identifying and assessing risks of material misstatement and determining the appropriate audit response. The session also reviews the specific requirements when component auditors are involved.
The course combines the technical requirements with practical guidance, examples and common pitfalls to help auditors apply the standard effectively and efficiently in real-world engagements.
Planning and performing group audits, including component materiality and communication requirements.
Prerequisites: None
Content Coverage:
- CAS 600 Group Audits
Key Takeaways
By the end of this session, participants will be able to:
- Explain the key requirements and risk-based approach of Revised CAS 600, including component identification, materiality and aggregation risk.
- Appreciate how to calculate component materiality.
- Apply practical strategies for planning and conducting group audits.
- Evaluate role and significance of component auditors' work.
- Implement appropriate procedures to obtain sufficient audit evidence.
- Navigate challenges in group audits.
Who Will Benefit
- Intended for auditors at all levels.
How to Access the Course
To access your course, visit the CPA Ontario Blackboard site and sign in using the same username and password used for the Registration Portal.
Important: Course access begins on the date of purchase and remains available for the Access Time specified for the course under Dates and Location. Please review the access time before purchasing. Note that it may take up to 15 minutes after registration for the course to appear in Blackboard.
Registration, cancellation, withdrawal, and other CPA Ontario PD policies can be found here.
Speaker(s)
Kirsten S. Albo, FCPA, FCA, ICD.D is the Founder of ASK KSA Consulting Inc. providing consulting and advisory services to small and mid-sized firms to help them conduct effective and efficient engagements and meet the requirements of being in public practice. Areas of practice include cyclical file inspections, external monitoring activities, file efficiency reviews and engagement quality reviews. Delivering professional development courses is a key component of her business as she develops and delivers specialized in-house training courses for the multitude of firms with whom she works.