Definition of Engagement Team and Group Audits
This project aims to strengthen and clarify the independence principles in the Code of Ethics that apply to individuals and firms for the audit of group financial statements. The project will also amend the definition of Engagement Team to align with auditing and assurance standards, and also clarify the implications of this change and the independence requirements that apply.
This project is now completed with the amending standard issued on 30 June 2023. The amending standard is effective from 1 January 2024, with early adoption permitted.
Related Documents:
Exposure Draft 01/23Technical Alert
| Comment | |
|---|---|
| CPA Australia | View |
| KPMG | View |
| Deloitte | View |
| Institute of Public Accountants | View |
| CA ANZ | View |
| EY | View |
Project Stages
Proposed revisions to the Code relating to the definition of Engagement Team and Group Audit is based on an IESBA project.
Please refer to Project Development Tab for information on this project.
Exposure Draft
Proposed Revisions to APES 110 Code of Ethics for Professional Accountants (including Independence Standards) Relating to the Definition of Engagement Team and Group Audits
Submissions made to ED 01/23
Chartered Accountants Australia and New Zealand (CA ANZ)
Project Completed
Amending Standard issued June 2023 and effective from 1 January 2024.
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