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Using the Work of Others - Coggle Diagram
Using the Work of Others
Expert
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Objectives
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If using, determine whether that work is adequate for auditor's purpose
Determining the need
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Risks of material misstatement may increase, expertise in a field other than accounting is needed for management to prepare the financial statements
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Reporting considerations
If an expert does not provide sufficient audit evidence , auditor still have to resolve
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internal auditors
Considerations
Whether the planned nature and scope has been performed or planned to be performed is relevant to the overall audit strategy and audit plan of the external auditor
external auditor has sole responsibility for the audit opinion expressed and not reduced when using work of internal audit
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