The central statutory auditor of a bank receives reports from the auditors of many branches. When using the work of branch auditors, the central auditor should:

Correct answer: A) Consider the guidance in SA 600, evaluate the branch auditors' reports, and determine how their findings affect the bank's financial statements as a whole

Explanation

In bank audits, branch audits are performed by branch auditors and the central auditor uses their work. Following SA 600 on using the work of another auditor, the central auditor considers the competence of branch auditors, reviews their reports and LFARs, and evaluates the impact of their observations on the bank's overall financial statements and the audit opinion.