Group Audits 1 of 3 ‒ Consolidations Group audits represent some of the most risky audits to undertake, as most public interest audits comprise the audit of groups of companies. However, the standards and audit principles relevant to group audits do not always receive the detailed attention they deserve. This article addresses ONLY audit procedures relating to the consolidation process, and needs to be read in conjunction with parts 2 and 3 to reach an understanding of group audits as a whole. Professional requirements The International Standards on Auditing (ISAs) apply to group audits. ISA [...]