Which of the following statements concerning the experts an auditor consults in the audit of financial statements is false?
A)They have expertise in fields other than accounting and auditing.
B)They are not members of the audit team.
C)They have to be unrelated to the company or organization under audit.
D)The auditor must be able to evaluate the expert's work and assess the reasonableness of the expert's findings.

Question

Quizplus · Accepted Answer

The statement that the expert consulted must be unrelated to the company or organization under audit is false. In fact, the expert may be a member of the company under audit, but must still possess specialized knowledge or expertise relevant to the audit in order to qualify as an expert.

Which of the Following Statements Concerning the Experts an Auditor