108 paragraphs found
Consistent with paragraph 23 of this Guidance Statement, factors that may impact the persuasiveness of evidence needed when evaluating the appropriateness of the work of a management’s expert include the risk of material misstatement and the significance …
A management’s expert’s work involves the use of methods, assumptions and source data, the auditor ordinarily does not reperform all of the work undertaken by that expert. The auditor’s responsibility is to evaluate that the management’s expert’s work is …
When a management’s expert’s work involves the use of methods, factors relevant to the auditor’s evaluation of the appropriateness of methods may include whether they are: Generally accepted within the management’s expert’s field; Justified as the …
Ordinarily the auditor is not expected to obtain access to proprietary models used by a management’s expert. Rather, the auditor’s responsibility is to obtain information to evaluate whether the model used is appropriate, robust and capable of producing …
If the work of a management’s expert involves the use of methods relating to an accounting estimate, or developing or providing findings or conclusions relating to a point estimate or range or related disclosures for inclusion in a financial report, the …
When a management’s expert’s work involves the use of significant assumptions [31] , factors relevant to the auditor’s evaluation of the reasonableness of those assumptions may include consideration of: The degree of estimation uncertainty associated with …
Assumptions relating to accounting estimates that are made or identified by a management’s expert become management’s assumptions when used by management in making an accounting estimate [32] . In these circumstances, the auditor applies the relevant …
The auditor may consider whether the source data is sufficiently relevant and reliable for their purposes, including procedures relating to establishing the accuracy and completeness of the data and evaluating whether the data is sufficiently precise and …
In many cases, the auditor may test the source data directly, particularly where the data is internally produced by the company. However, in other cases, for example when the nature of the source data used by the management’s expert is highly technical, …
If the work of a management’s expert involves sources of data relating to an accounting estimate, or developing or providing findings or conclusions relating to a point estimate or related disclosures for inclusion in a financial report, the auditor may …