Experts as a source of audit evidence, Auditing

Assignment Help:

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.


Related Discussions:- Experts as a source of audit evidence

Questionable and fraudulent accounting, Assessment tasks: This assign...

Assessment tasks: This assignment requires you to revisit the case of the collapse of US energy giant Enron Ltd. Your revisit starts with a reading of the excerpts from memos

Need for an audit, The Need for an Audit If you take an example of a mode...

The Need for an Audit If you take an example of a modern large liability company, we can clearly distinguish between the providers of funds and those who control those funds. The

Audit evidence, factors that influence auditors judgement on sufficiency of...

factors that influence auditors judgement on sufficiency of audit evidence

Auditing and assurance in australia, i need an assignment for auditing with...

i need an assignment for auditing with word count of 1750

Group auditing and holding campnies, what a group auditing and holding camp...

what a group auditing and holding campanies in details with exmple propurly

Company issues, Q. If Kiner Company issues 3,000 shares of $5 par value com...

Q. If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the account a. Paid-in Capital in Excess of Par Value will be credited for $15,000. b. Common Stoc

Procedures when fraud is suspected, Procedures When Fraud is suspected ...

Procedures When Fraud is suspected Whenever the auditor encounters situation that might indicate that there is a material mis-statement in the financial statements resultant fr

How is a hospitality firm valued, Firm valuation refers to the total value ...

Firm valuation refers to the total value of a firm in the capital market. It is the stock price of a firm times its outstanding shares. Total value of a firm is also called market

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