… This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide …

… There is no equivalent International Standard on Auditing or International Auditing Practice Statement to this Guidance Statement. …

Competence, capability and objectivity of a management’s expert impacts the degree of reliability of that expert’s work as audit evidence, that is, the extent to which the management’s expert’s work could provide persuasive audit …

When the management’s expert has been evaluated by the auditor as not being competent, capable and/or objective, the auditor may consider not using that expert’s work as audit evidence. In such circumstances the auditor may consider: Suggesting to …

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 …

The evaluation of the significance of threats to objectivity and of whether there is a need for safeguards may depend upon the role of the management’s expert and the significance of that expert’s work in the context of the audit. There may be safeguards …

… who is not an expert in a field other than accounting or auditing may be able to obtain a sufficient understanding of … this understanding may be obtained include: Experience in auditing entities that require such expertise, for example, …

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 …

… an audit engagement in accordance with the Australian Auditing Standards, relevant ethical requirements, and …

… items have the meanings attributed in the Australian Auditing Standards and reproduced below: …