CAF-8 · Chapter 12 · Question 3 of 10
According to ISA 620, what is the definition of an 'Auditor's Expert'?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) An individual or organization possessing expertise in a field other than accounting or auditing, whose work is used by the auditor to obtain sufficient appropriate evidence.
Explanation
Auditor's experts provide specialized non-accounting skills, such as complex property valuations, legal interpretations, or specialized actuarial calculations.
More Reliance on Others MCQs
- Q5What is the external auditor's responsibility for the final audit opinion when they have used the work of an expert or internal auditors?
- Q6If an auditor uses a 'Service Organization' (e.g., an external company that processes the client's payroll), which ISA applies?
- Q7A 'Type 2 Report' from a service organization's auditor provides evidence regarding:
- Q8Which of the following is an indicator of LOW 'Objectivity' for a client's internal audit department?
- Q9When the external auditor decides to use the work of an expert, which of the following must be agreed upon in writing between the auditor…