HKSA 600 (Revised), Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)

Technical Resource
This webpage contains pronouncements, guides and articles that are relevant to HKSA 600 (Revised), Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors).

Effective Date
The standard is effective for audits of financial statements for periods beginning on or after 15 December 2023. It replaces the extant HKSA 600.

Affected Standard
HKSA 600 (Revised), Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)

Why change
The standard has been revised to better align with recently revised standards, such as HKSQM 1, HKSA 220 (Revised) and HKSA 315 (Revised 2019). The new and revised requirements of HKSA 600 (Revised) also strengthen the auditor’s responsibilities related to professional skepticism; planning and performing a group audit; two-way communications between the group auditor and component auditors; and documentation.

Click below for more information:

The Institute

• HKSA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)
• E-learning: The revised standard on group audit engagements (January 2024)

IAASB

• IAASB Final Pronouncement and Basis for Conclusions
• IAASB Fact Sheet: Audits of Group Financial Statements

CPA Canada

• CAS 600 implementation guide (September 2023)
• CAS 600 FAQ for auditors (December 2022)
• A New Approach for Group Audits (August 2022)

ICAEW

• ISA 600: What's New in Group Audits?

Frequently used resources