ICAEW ARF · Chapter 7 · Question 11 of 11
An auditor uses an independent property valuer as an auditor's expert. Which of the following is the auditor required to do?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Evaluate the expert's competence, capabilities and objectivity, and the adequacy of the expert's work
Explanation
When using an auditor's expert, the auditor must evaluate whether the expert has the necessary competence, capabilities and objectivity, agree the scope of the work and evaluate whether the findings are adequate. The auditor retains sole responsibility for the opinion, so an unmodified report does not refer to the expert. Client approval is not required.
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