ACC 821 Lecture Notes - Lecture 8: Audit Evidence, Financial Statement, Pension
Document Summary
Responsibilities relating to the work of an individual or org in a field of expertise other than acc or auditing when that work is used to assist the auditor in obtaining sufficient app audit evidence. Does not deal with: engagement team members, work of expert used by mgmt. Sole responsibility for an audit opinion not reduced by use of auditors expert. Auditor may accept that experts findings or conclusions in the experts field as app audit evidence if cas followed. Analysis of complex or unusual tax compliance issue. To determine whether to use the work of an auditors expert. If using the work of an auditor"s expert, to determine whether that work is adequate for the auditors purposes. Should determine need for expert, but may be able to develop sufficient expertise. Consider: risks of material misstatement in the matter to which that experts work relates, sig of experts work in the context of the audit.