Newly Revised ISA 600 (Group Audits Standard) approved

22 February 2022
Auditing and Assurance
South African Accounting Academy

In its December 2021 meeting, the IAASB approved ISA 600 (Revised) as a final standard, effective for periods beginning on or after 15 December 2023.

The proposed revised standard should be published shortly.

Refer to Agenda Item 2 for various documents relating to the Revised ISA 600 at https://www.iaasb.org/meetings/iaasb-quarterly-board-meeting-december-6-14-2021?utm_source=Main+List+New&utm_campaign=a084472633-IAASB_eNews_7_7_21_COPY_01&utm_medium=email&utm_term=0_c325307f2b-a084472633-80719200

Click here to download the newly approved ISA 600:

https://www.ifac.org/system/files/meetings/files/20211206-IAASB-Agenda_Item_2-C-Proposed_ISA_600_Revised_Clean-final.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

As an auditor and independent reviewer, you need to comply with International Standards on Auditing and other Assurance Services, and thus you need knowledge of newly revised standards that are approved as well as when they become effective.
Failure to adhere to ISAs may be interpreted as negligence and you could be held liable.

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