108 paragraphs found
The auditor may consider the final findings and conclusions in the agreed form of report of the management’s expert. The auditor, using their professional judgement, considers what additional procedures are required, particularly when the risk of material …
The auditor has sole responsibility for the audit opinion expressed and that responsibility is not reduced by the auditor’s use of the work of a management’s …
The preparation and presentation of a financial report and/or other historical financial information of an entity is the responsibility of management and those charged with governance. Determination of amounts included in the financial report and/or other …
An individual may possess expertise in accounting or auditing, as well as expertise in a field other than accounting or auditing (for example an actuary may also be an accountant). In these circumstances, the determination of whether that individual is a …
Management may engage or employ experts (this may include but is not limited to actuaries, valuers, engineers, environmental consultants, geologists, scientists, health practitioners, taxation specialists, legal advisors and other industry specialists) to …
The auditor’s decision on whether to use the work of a management’s expert as audit evidence may be influenced by: The nature and significance of the matter, including its complexity; The risks of material misstatement in the matter; The nature, timing …
Understanding the sources of audit evidence in relation to the work of a management’s expert including sufficient detail to understand the nature, timing, extent of work performed, and conclusions reached by that expert may need to be considered early on …
When determining the nature, timing and extent of audit procedures in relation to the work of the management’s expert, the auditor makes reference to the requirements, application and other explanatory material contained in ASA 500 [14] …
ASA 500 [15] requires that if information to be used as audit evidence has been prepared using the work of a management’s expert, the auditor, to the extent necessary and having regard to the significance of that expert’s work for the auditor’s purposes: …
In relation to the work of a management’s expert, the auditor obtains more persuasive audit evidence the higher the auditor’s assessment of risk [16] . The auditor may also consider obtaining more persuasive evidence as: The significance of that expert’s …