Assessing an expert's report involves the auditor:
A)evaluating the expert's qualifications as a member of a relevant professional body
B)assessing the consistency of information included in the expert's report with their understanding of the client
C)setting the nature,timing and extent of work to be completed by the expert
D)deciding that they do not have the expertise necessary to test and evaluate the accuracy of reported information

Question

Quizplus · Accepted Answer

Assessing an expert's report involves the auditor assessing the consistency of information included in the expert's report with their understanding of the client. This helps in determining the accuracy and reliability of the report. The auditor should also review the expert's qualifications, but this is not the primary focus of assessing the report. The auditor may set the nature, timing, and extent of work to be completed by the expert, but this is done before the report is prepared. The auditor should not decide that they do not have the expertise necessary to test and evaluate the accuracy of reported information without first assessing the report.

Assessing an Expert's Report Involves the Auditor