Communication with the expert, Auditing

Communication with the expert

If the auditor intends to use the work of an expert then he must communicate with the expert well in advance to confirm the terms of engagement and also to cover other matters such as:

a) The objectives and scope of work;

b) An outline of the particular items the auditor expects to be covered in the report;

c) The planned use by the auditor of the expert's work including possible communication with third parties as to the expert's identity and extent of involvement.

d) Extent of access to suitable records and files by the expert.

e) Explanation of the expert’s relationship with the client;

f) Confidentiality of the client's information;

g) The assumptions and methods intended to be used by the expert and how consistent they are with those used in the past;

h) The recording of any further information required as audit evidence.

Posted Date: 12/3/2012 6:41:18 AM | Location : United States







Related Discussions:- Communication with the expert, Assignment Help, Ask Question on Communication with the expert, Get Answer, Expert's Help, Communication with the expert Discussions

Write discussion on Communication with the expert
Your posts are moderated
Related Questions
Issues in Audit of Intangible Assets The two key issues in such audit of intangible assets are: (a) Recognition of intangible assets The audit problem here is to mak

Length: 2000 words Submission method options Alternative submission method Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-tier ac

Audit of Assets- Audit Process Non current assets have the fundamental characteristic which they are held for require in the business and not about resale. IAS 1 Presentation

Indications of inapplicability of Going Concern Unfortunately, Insolvency is a development industry as the economy suffers a down turn and consequently for a majority of enter

the availability of audit evidence is necessary but not sufficient condition for absolute reliance on the figure presented for audit

The agency relationship between absentee owners and managers produce a natural conflict of interest.what does it mean?

Auditors Procedures After Stock Taking It is particularly a follow up exercise and it includes: 1) Checking the cut off along with the details of last numbers of stock move

What is an external auditor's responsibility in regard to finding fraud?

Motor Vehicles - Audit Process Similar considerations govern the audit of motor vehicles as to those relating to machinery and plant.  The simply matter of consideration now i

Standardization of Working Papers - Auditing The ICPAK guideline states that the needs of standardized working papers may improve the effectiveness along with that they are re