Skills and objectivity of expert, Auditing

Assignment Help:

Skills and Objectivity of Expert

The skills and competence of the expert

Whether planning to require the work of an expert, so the auditor should assess the professional competence of the specialist expert.

An auditor should satisfy himself such as to the expert's skills, competence and experience through considering the professional qualifications, and the membership or license of an suitable professional body, reputation and experience in the field whether the auditor is seeking evidence.

Objectivity of the expert

The auditor should assess the objectivity of the specialist. Just like in his own case, whereby his objectivity has to be jealously guarded the auditor must believe the objectivity of the specialist.  The expert's objectivity can be impaired where the expert is employed by the client or is related in some other manner to the client for example being financially dependent upon or having an investment in the client.  The auditor should perform much more extensive process than would otherwise have been planned, or he should realize engaging another expert.


Related Discussions:- Skills and objectivity of expert

Code of ethics for auditor, Fitri, a sole proprietor in pulic practice, pla...

Fitri, a sole proprietor in pulic practice, plans to establish a separate department that will provide internal audit service to his audit clients.

Requirements of the companies act, Requirements of the Companies Act H...

Requirements of the Companies Act Here the seventh schedule to the Companies Act gives the matters which must be expressly stated in the AUDITOR'S REPORT 1. Where they have

Briefing paper on the issues facing established audit firms, Case Study: ...

Case Study: You have commenced work as a graduate auditor with a well established audit firm. The firm has a wide client base, which includes some of the largest companies in t

Advantages and disadvantages of internal audit?, Benefits of Internal Audit...

Benefits of Internal Audit are following: It is in-expensive. No charted accounted is needed to audit internally. Faults will be removed before preparing financial stateme

Joint auditor, advantage and disadvantage of joint auditor?

advantage and disadvantage of joint auditor?

Balance sheet and income statement, OBJECTIVES To apply certain st...

OBJECTIVES To apply certain steps in the audit planning process, with emphasis on risk identification and audit response (strategy) thereto. To provide you with the exp

Types of audits, Types of audits So far we have tended to think in term...

Types of audits So far we have tended to think in terms of the audit of limited companies, and indeed, the emphasis throughout this text will be on such companies incorporated

What method would you use to test an individual account bal., You are audit...

You are auditing the accounts receivable balance of a cable television provider. Individual accounts receivables tend to be similar in amount to each other and cover one or two mon

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

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd