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RELIANCE ON THE WORK OF OTHERS (OTHER VALID POINTS (COST & SERVICE,…
RELIANCE ON THE WORK OF OTHERS
RELIANCE
INTERNAL AUDITORS(ISA 610)
SERVICE ORGANIZATIONS / OUTSOURCING (ISA 402)
EXPERT(ISA 620)
EVALUATION CRITERIA
EXPERIENCED
INDEPENDENCE / OBJECTIVITY FROM CLIENTS
QUALIFICATION OF EXPERT
EXPERT
EXTERNAL
AUDITOR EXPERT
EXPERTISE OTHER THAN AUDITING OR ACCOUNTING
WHOSE WORK ASSIST AUDITOR IN OBTAINING SUFFICIENT EVIDENCE
INTERNAL OR EXTERNAL EXPERT
INTERNAL
MANAGEMENT EXPERT
EXPERTISE OTHER THAN AUDITING OR ACCOUNTING
ASSIST IN PREPAIRING F/S
OTHER VALID POINTS
COST & SERVICE
REFERENCE/BACK GROUND
AVAILABILITY
COMPETENCE
AUDITOR NEVER GIVE REFERENCE OF EXPERT/INTERNAL AUDITOR/SERVICE ORGANIZATION
OUTSOURCING
GOOD NEWS
COMPETENT
RELIANCE
INDEPENDENCE
BAD NEWS
ACCESS(MOSTLY RESTRICTED)
IMPACT ON AUDIT
SCOPE LIMITATION(MODIFY REPORT / OPINION)
CONTROL RISK(CONTROL RISK REDUCE)
PLANING (ADDITIONAL PLANING WOULD BE REQUIRED)