The purpose of this thesis is to undstand the work performed by the group engagement partner in the planning of a group audit. Furthermore, it will contain an analysis and discussion on how the group engagement partner obtains a sufficient understanding for the component auditor and how he involves in his work. It will also include which special consideration there has to be taken regarding to Danish legislation: the Act on Processing of Personal Data and the Danish Bookkeeping Act as to groups. To understand the work performed by the group engagement partner in the planning of a group audit the audit procedures according to ISA 600 will be described step-by-step. This include the acts regarding to preliminary audit engagement, understanding the group, its component and its invironment, identify significant components, determination of materiality, understanding the component auditor, establish the overall group audit strategy, and develop a group audit plan. When the group engagement partner request an auditor to perform work on the financial information of a component he has to obtain an understanding of whether the component auditor will comply with the ethical requirement, whether the component auditors’ professional competence is sufficient and whether the component auditor operates in a regulatory invironment. The group engagement partner also has to get involved in the work of the component auditor to the extent necessary in order to obtain sufficient audit evidence. In ISA 600 there is almost no guidance as how to involve and obtain sufficient understanding for the above areas and therefore the group engagement partner has to evaluate on his own to which extent the audit procedures has to be conducted. The analysis and discussen are based on interviews with experienced group engagement partners on how they involve and obtain sufficient understanding accordring to ISA 600. Consolidating of a group’s IT-departments often delivers significant cost savings but it is not always legal to transfer personal data or store personal data in anohter country. Therefore, the thesis will also contain a discussion of which special considerations the group engagement partners have to assess beside those mentioned in ISA 600 as to the Danish legislation regarding the Act on Processing of Personal Data and the Danish Bookkeeping Act.
|Uddannelser||Cand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling|