Communication with the expert, Auditing

Assignment Help:

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.


Related Discussions:- Communication with the expert

Audit evidence, State four factors considered determining sufficiency of a...

State four factors considered determining sufficiency of audit evidence

Limitation of audit evidence, Limitation of Audit Evidence The quantit...

Limitation of Audit Evidence The quantity and quality of evidence is constrained through the following factors as: Absolute proof is not possible; Some assert

Communication on fraud suspection, Communication: Whenever the auditor...

Communication: Whenever the auditor recognizes a misstatement resultant from fraud, or a suspected fraud, or error, the auditor must consider the auditor’s duty to communicate

Audit evidence, why are the figures presented to an auditor not sufficient ...

why are the figures presented to an auditor not sufficient for absolute reliance

Proxy, if a proxy is voted as per his judgement other than member prescribe...

if a proxy is voted as per his judgement other than member prescribed to him... what is the action to be taken?

Control Document, What are the strength of Stock transfer note

What are the strength of Stock transfer note

Financial audit, In a financial audit, management assertions or financial s...

In a financial audit, management assertions or financial statement assertions is the set of information that the preparer of financial statements (management) is providing to anoth

Deposits and share - building society, Deposits and Share - Building Societ...

Deposits and Share - Building Society Shares may make of subscription shares and paid up shares. Interest on shares might be credited to ensure specific control to the account

What are the benefits of internal audits, An audit helps stay track of wher...

An audit helps stay track of where the currency or money is going and makes sure the money is going anywhere it is believed to and not in someone''s pocket. An audit may also help

Stock taking - audit process, Stock Taking - Audit Process The proced...

Stock Taking - Audit Process The procedures for carrying out physical stock taking vary in detail according to the circumstances and size of the business and the life of its

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