Experts – Knowsia

AA – April 2022 – L2 – Q1d – Audit and Assurance Evidence

Identify five circumstances when the work of an auditor's expert is needed.

Question

ISA 620: “Using the Work of the Auditor’s Expert” provides guidance to auditors on relying on the work carried out by experts. Even though an expert’s work might be sought for relating to a particular issue, the Auditor has sole responsibility for the audit opinion being expressed.

Required:
Identify FIVE (5) circumstances the work of an Auditor’s Expert may be needed. (5 marks)

Answer

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Tags: Auditor's responsibility, Expert Reliance, Experts, ISA 620
Level: Level 2

Topic: Audit and Assurance Evidence
Series: APR 2022

AT – Nov 2015 – L3 – Q2b – Business income – Corporate income tax

Determining the tax treatment of payments to part-time lecturers, facilitators, and experts engaged by a training and research center.

Question

A globally recognized Training and Research Centre on peacekeeping and peace support operations in Ghana has engaged you as a tax consultant to provide tax opinion on how the following transactions should be treated:

i. The Centre engages part-time lecturers on its Master’s Programmes which are run on a modular basis and run for a one-year period. Payments for the fees of these lecturers are based on the number of hours done.
(2 marks)

ii. The Centre engages facilitators who are to teach and direct the flow of class for courses that run for a short period. Payments for their services are based on hourly/daily work done.
(2 marks)

iii. The Centre engages experts/consultants to assist in developing new courses or review existing courses being run by the centre or undertake any other assignment as and when required by the Centre. Payment to this category of persons is also dependent on the duration of the task and based on man-days.
(2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract for Service, Experts, Facilitators, Part-time lecturers, Withholding Tax
Level: Level 3

Topic: Business income - Corporate income tax
Series: NOV 2015

AA – April 2022 – L2 – Q1d – Audit and Assurance Evidence

Identify five circumstances when the work of an auditor's expert is needed.

Question

Required:
Identify FIVE (5) circumstances the work of an Auditor’s Expert may be needed. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditor's responsibility, Expert Reliance, Experts, ISA 620
Level: Level 2

Topic: Audit and Assurance Evidence
Series: APR 2022

AT – Nov 2015 – L3 – Q2b – Business income – Corporate income tax

Determining the tax treatment of payments to part-time lecturers, facilitators, and experts engaged by a training and research center.

Question

ii. The Centre engages facilitators who are to teach and direct the flow of class for courses that run for a short period. Payments for their services are based on hourly/daily work done.
(2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract for Service, Experts, Facilitators, Part-time lecturers, Withholding Tax
Level: Level 3

Topic: Business income - Corporate income tax
Series: NOV 2015

Question Tag: Experts

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AA – April 2022 – L2 – Q1d – Audit and Assurance Evidence

Identify five circumstances when the work of an auditor's expert is needed.

AT – Nov 2015 – L3 – Q2b – Business income – Corporate income tax

Determining the tax treatment of payments to part-time lecturers, facilitators, and experts engaged by a training and research center.

AA – April 2022 – L2 – Q1d – Audit and Assurance Evidence

Identify five circumstances when the work of an auditor's expert is needed.

AT – Nov 2015 – L3 – Q2b – Business income – Corporate income tax

Determining the tax treatment of payments to part-time lecturers, facilitators, and experts engaged by a training and research center.

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