Reference to an expert in the Auditor's Report

When issuing an unmodified auditors report, the auditor should not refer to the work of the expert.  This is because such a reference might be misunderstood to be a qualification of the auditor's opinion or a division of responsibility neither of which is intended.

Occasionally the auditor may feel that even though he is expressing an unqualified opinion it may benefit the reader of the accounts if he refers to the work of the expert then the auditor must obtain the permission of the specialist.  If permission is refused and the auditor believes such a reference is necessary he should seek legal advice.

Posted Date: 1/24/2013 7:39:28 AM | Location : United States

Ask an Expert

Related Discussions:- Reference to expert in the auditor''s report, Assignment Help, Ask Question on Reference to expert in the auditor''s report, Get Answer, Expert's Help, Reference to expert in the auditor''s report Discussions

Write discussion on Reference to expert in the auditor''s report
Your posts are moderated

Write your message here..

Related Questions

Examination of Deeds, Examination of Deeds Make Sure that the mortg... Examination of Deeds Make Sure that the mortgage is in the name shown in the advance records; That there is a document of title to the property within mortgage and that

Assignment, i have assignment i have assignment

GOODWILL in group, audit procedures in business combination conserning Good... audit procedures in business combination conserning Goodwill

Explain the different auditing procedures, Problem : As per the Field S... Problem : As per the Field Standard (INTOSAI), competent, relevant and reasonable evidence should be obtained to support the auditor judgement and conclusions regarding the org

Classification of individual business risk, Classification of Individual Bu... Classification of Individual Business Risk Individual business risk can be low or high impact and low or high likelihood. Here are some illustrations for a satirical magazine.

Experts as a source of audit evidence, Experts as a source of Audit Evidenc... Experts as a source of Audit Evidence Mostly the auditor's work on evidence obtained from along within the entity supported through confirmations from third parties will provi

Pension funds, Pension Funds Pension funds are set up by companies or o... Pension Funds Pension funds are set up by companies or other organizations: (a) To administer the pension payable to retired employees and (b) Ensure that funds are available

Reliance on the work of other auditors, Reliance on the Work of Other Audit... Reliance on the Work of Other Auditors The principal auditor or the primary auditor is solely responsible for the holding company's accounts. So here it is inevitable but that

Audit risks, People do not plan to fail, they fail to plan. Planning is an... People do not plan to fail, they fail to plan. Planning is an essential feature of an effective audit. The most effective plan is one that is reduced to writing, outlining the au

Cost and authorization - auditing process, Cost and Authorization - Auditin... Cost and Authorization - Auditing Process The cost of building and land acquired while the year should be vouched to suitable documentation.These are contract of sale, surveyo