- 15 Marks
AA – Nov 2024 – L2 – Q3a – Management’s Expert and Audit Evidence
Explain the term "management’s expert" and four factors to consider before relying on their work as audit evidence.
Question
Question:
ISA 500: Audit Evidence provides guidance for auditors intending to rely on the work of a management’s expert. If the information to be used as audit evidence has been prepared using the work of a management’s expert, the auditor must evaluate the management’s expert.
Required:
i) Explain the term “management’s expert.”
ii) Explain FOUR factors to consider before relying on the work of a management’s expert as audit evidence.
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