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Comment Letter

IAASB: Exposure Draft of Proposed International Standard on Audits of Group Financial Statements

Friday, October 2, 2020

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In this comment letter, the CAQ  provides views to the International Auditing and Assurance Standards Board’s (IAASB) Exposure Draft, International Standard on Auditing (ISA) 600 (Revised),Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors). The CAQ is supportive of the IAASB’s efforts to strengthen the auditor’s approach to planning and performing a group audit and to clarify the interaction between group audit requirements and the requirements of other ISAs through the use of a principles-based and risk-based approach. Overall, we believe that a principles and risk-based proposed standard is an improvement over extant ISA 600. Read the full comment letter here.