108 paragraphs found
When the management’s expert is an employee of the entity, mitigating factors which enhance the ability of the management’s expert to be objective, and therefore are safeguards for the lack of independence may include: Adherence to the professional …
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 …
The auditor makes reference to the requirements, application and other explanatory material in ASA 500 when obtaining an understanding of the management’s expert’s work to evaluate whether it is appropriate for the purposes of the …
When obtaining an understanding of the management’s expert’s work, the auditor, having regard to whether the management’s expert is internal or external to the entity, may consider: The terms of the engagement between the entity and the management expert, …
Where management has not consented for their expert to discuss their findings or conclusions with the auditor, or the management’s expert has not consented to the auditor’s intended use of their findings, the auditor may consider the guidance as provided …
As early as practicable during the engagement, the auditor communicates with the management’s expert, either directly or indirectly through management, and may consider the management’s expert’s approach and methodology. The auditor evaluates whether the …
ASA 500 [26] contains application and other explanatory material that when evaluating the appropriateness of the management expert’s work as audit evidence for the relevant assertion, the auditor considers: The relevance and reasonableness of the …
ASA 540 [27] contains requirements and application material when evaluating the appropriateness of the work of a management’s expert as audit evidence in relation to the audit of accounting …
In addition, when evaluating the appropriateness of the work of a management’s expert, the auditor may consider the accuracy of prior period estimates made by the management’s expert. Where the auditor determines that past estimates have not been …
ASA 500 and ASA 540 do not ordinarily require that the auditor reperforms all of the work undertaken by a management’s expert. Instead, if information is to be used as audit evidence and that evidence has been prepared using the work of a management’s …