An expert under employ by the client cannot be used for purposes of the auditor’s work because doing so would the rules on objectivity and independence.
An expert under employ by the client cannot be used for purposes of the auditor’s work because doing so would the rules on objectivity and independence.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Considering the work of experts is one of the factors of audit planning. Which of the following statements is incorrect concerning the use of the work of experts?
a. An expert under employ by the client cannot be used for purposes of the auditor’s work because doing so would the rules on objectivity and independence.
b. An auditor may use an expert in the determination of physical characteristics relating to inventories
c. In the context of PSAs, an expert is a person possessing a high degree of skill or knowledge in fields outside auditing and accounting.
d. Professional competence and reputation are some of the major considerations in selecting an expert
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