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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 provide him enough reliable evidence which can enable him to provide an unqualified opinion. However there are certain circumstances where his knowledge is not enough and he may see requirement to rely on the opinion of other experts to support him from his opinion.
The authoritative document on this subject on ISA 620: Using the work of an expert. Hence it defines an expert or a specialist such a firm possessing special skills or a person, experience and knowledge in a particular field other than auditing and accounting. The expert may be engaged through the client or through the auditor; he may be employed through the client or through auditor.
Definition of Audit Evidence "Audit evidence" which is all the information used through the auditor in arriving on the conclusions on such the audit opinion is support, and in
Auditor performs analytical work only at the end of the audit. Ans: I disagree with the statement because: i) Analytical work/procedures are used to obtain an understanding o
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Reserves - Audit Process Movements in reserves need disclosure in the balance sheet, the loss and profit account, the director's reports or in the notices to the accounts. The
The following situations may or may not breach the ethical requirements of APES 110. You need to state whether they are or are not a breach of the ethical requirements of APES110 a
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
why are the figures presented to an auditor not sufficient for absolute reliance
For each threat explain how it might be avoided.
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