If the auditor determines that the work of the auditor’s expert is not adequate for the auditor’s purposes, the auditor shall: (Ref: Para. A40 ) Agree with that expert on the nature and extent of further work to be performed by that expert; or Perform …

The auditor shall not refer to the work of an auditor’s expert in an auditor’s report containing an unmodified opinion unless required by law or regulation to do so.  If such reference is required by law or regulation, the auditor shall indicate in the …

If the auditor makes reference to the work of an auditor’s expert in the auditor’s report because such reference is relevant to an understanding of a modification to the auditor’s opinion, the auditor shall indicate in the auditor’s report that such …

Expertise in a field other than accounting or auditing may include expertise in relation to such matters as: The valuation of complex financial instruments, land and buildings, plant and machinery, jewellery, works of art, antiques, intangible assets, …

In many cases, distinguishing between expertise in accounting or auditing, and expertise in another field, will be straightforward, even where this involves a specialised area of accounting or auditing. For example, an individual with expertise in …

It is necessary to apply judgement when considering how the requirements of this Auditing Standard are affected by the fact that an auditor’s expert may be either an individual or an organisation.  For example, when evaluating the competence, capabilities …

An auditor’s expert may be needed to assist the auditor in one or more of the following: Obtaining an understanding of the entity and its environment, the applicable financial reporting framework and the entity's system of internal control. Identifying …

The risks of material misstatement may increase when expertise in a field other than accounting is needed for management to prepare the financial report, for example, because this may indicate some complexity, or because management may not possess …

If the preparation of the financial report involves the use of expertise in a field other than accounting, the auditor, who is skilled in accounting and auditing, may not possess the necessary expertise to audit that financial report.  The engagement …

An auditor who is not an expert in a relevant field other than accounting or auditing may nevertheless be able to obtain a sufficient understanding of that field to perform the audit without an auditor’s expert. This understanding may be obtained through, …