(b) Explain the need for a first time group auditor to analyse the group structure. (5 marks)
正确答案：
(b)Needtoanalysethegroupstructure
Acertainamountofanalysisofthegroupstructurewillbeundertakenbeforeanauditoracceptstheroleofgroupauditor
particularlyiftheauditorisnotdirectlyresponsibleforthewholegroup
Ananalysisofthegroupstructureisnecessaryto:
■ensurethatparticularattentionisgiventothemoreunusualaspectsofcorporatestructures(egpartnership
arrangementsthatmaybeajointventurecomponentsintaxhavensshellcompaniesandhorizontalgroups);
■arrangeaccesstoinformationrelatingtoall‘significant’components(iethoserepresenting20%ormoreofgroup
assetsliabilitiescashflowsprofitorrevenue)onatimelybasis;
■identifytheapplicablefinancialreportingframeworkforeachcomponentandanylocalstatutoryreportingrequirements;
■planworktodealwithdifferentaccountingframeworks\/policiesappliedthroughoutthegroupanddifferencesbetween
InternationalAuditingStandards(ISAs)andnationalstandards;
■integratethegroupauditprocesseffectivelywithlocalstatutoryauditrequirements;
■identifyrelatedpartiesandeffectivelyauditthecompletenessofdisclosuresinthegroupaccountsinaccordancewith
IAS24RelatedPartyDisclosures
Anydoubtsaboutthegroupstructurewillneedtobeclarifiedagainstpubliclyavailableinformationassoonaspossibleto
ensureaneffectiveauditoftherelevantcomponents(iesubsidiariesassociatesandjointventures)Theauditorcanthen
planthelevelofassurancerequiredoneachcomponentwellinadvanceoftheyearend
Havingestablishedthoroughlythegroupstructurefromtheoutsettheauditorwillthenneedonlytoupdatethestructurefor
changesyear-on-year
