Nonauthoritative guidance arising from implementation issues is provided in 16 additional Technical Questions and Answers (TPAs) included as paragraphs .24 to .39 of TIS Section 8800, “Audits of Group Financial Statements and Work of Others.”
Implementation issues, particularly regarding equity investments, are addressed in the guidance for AU-C Section 600, Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors).
In addition, TPA 8800.23, “Use of Component Materiality When the Component Is Not Reported On Separately,” has been revised. For more information on AU-C Section 600, see “Clarifying the Standard for Group Audits.”
Meanwhile, TPA 9100.07 has been issued to provide nonauthoritative guidance stating that auditors can comply with a requirement by naming the city and state where the auditor practices, in the firm’s letterhead on which the auditor’s report is issued.
AU-C Section 700, Forming an Opinion and Reporting on Financial Statements, requires the auditor’s report to name the city and state where the auditor practices.