Our January 2008 Update considered the implications of the new rules providing for access to audit working papers for successor auditors. The Auditing Practices Board (APB) has since issued a revised version of ISA 600 “Using the Work of Another Auditor”, effective for audits of financial statements for periods commencing on or after 6 April 2008. The main change to the Standard is the addition of a requirement for the principal auditor in an audit of group financial statements to document any review it undertakes of the audit work conducted by other auditors, if that review is for the purpose of the group audit.
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APB - revised standard on using the work of another auditor
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