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HI Kim,
to what extent can the Group auditor intervene, direct, and advice to the component auditors in conducting their audit.
is it must that component auditors flow the suggestions and guidance of the group auditor or is it just part of creating good working relation.
for example materiality set by the group auditor for the component auditors. .Group auditor will set component materiality. He / she is responsible for the audits of the parent and the consolidated accounts – and can, if necessary, intervene as much as is needed. Ultimately it is the group auditor that risks being sued.
If component auditor will not toe the line the group auditor may have to go out and do more testing.
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