If the group engagement partner wants to name the component audit firm, then_______.
A)he/she must receive permission from the component auditor, and the component auditor's report on the subsidiary must be presented together with the auditor's report on the group financial statements
B)he/she must receive permission from the component auditor, and the prior auditor's report on the subsidiary must be presented together with the auditor's report on the group financial statements
C)he or she is free to do so
D)management must provide permission accordingly

Question

Quizplus · Accepted Answer

According to ISA 600, if the group engagement partner wishes to name the component audit firm, he/she must receive permission from the component auditor, and the component auditor's report on the subsidiary must be presented together with the auditor's report on the group financial statements. This ensures transparency and accuracy in financial reporting.

If the Group Engagement Partner Wants to Name the Component