Applicability of Clarified ISA 600

Further to Circular 12/2010 dated December 29, 2010 on the captioned subject the Council in its 263rd meeting held on April 4, 2015 has also approved the applicability of the Clarified ISA 600 ‘Special Considerations -Audits of Group Financial Statements (including the Work of Component Auditors).The clarified ISA 600 will be effective for audits of financial statements for periods beginning on or after July 1, 2015.

The Institute is following up with the SECP for aligning Form 35-C under the Companies Ordinance, 1984 to the Clarified ISA -600 requirements and till such notification existing Form 35-C will be applicable for audit of companies.

Circular 5 – Applicability of Clarified ISA 600