...Denise Hanes Downey; Jean C. Bedard SUMMARY Inspectors frequently identify deficiencies on global group audits (GGAs) attributed to problems in coordination and communication among the multiple participating firms. As GGAs involve large multinational entities with extensive global reach, the costs...

...Dan Sunderland; Gregory M. Trompeter SUMMARY This paper discusses problems faced in conducting global group audits. We present background discussion on group audits, including the relationships between the global group entity, the group engagement team, components, and the component auditors...

..., the percentages applied to overall materiality for determining tolerable misstatement, and what constitutes a clearly trivial misstatement. We also find that the firms' guidance for evaluating detected misstatements, including qualitative factors and firm guidance for group audits, is consistent across firms...