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SA 620: Using The Work of An Auditor's Expert: by Devansh Choudhary ROLL NO. 112

SA 620 provides guidance on using the work of an auditor's expert. An auditor's expert is an individual or organization with expertise in a field other than accounting or auditing whose work the auditor uses to obtain sufficient audit evidence. The auditor is solely responsible for the audit opinion but may accept an expert's findings as audit evidence. The objectives are to determine whether to use an expert, and if so, whether their work is adequate for the audit. Requirements include evaluating the need for an expert, their competence and objectivity, understanding their field of expertise, agreeing with the expert on the nature of their work, and evaluating whether the expert's work is adequate.

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68 views6 pages

SA 620: Using The Work of An Auditor's Expert: by Devansh Choudhary ROLL NO. 112

SA 620 provides guidance on using the work of an auditor's expert. An auditor's expert is an individual or organization with expertise in a field other than accounting or auditing whose work the auditor uses to obtain sufficient audit evidence. The auditor is solely responsible for the audit opinion but may accept an expert's findings as audit evidence. The objectives are to determine whether to use an expert, and if so, whether their work is adequate for the audit. Requirements include evaluating the need for an expert, their competence and objectivity, understanding their field of expertise, agreeing with the expert on the nature of their work, and evaluating whether the expert's work is adequate.

Uploaded by

Devansh Choudhary
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SA 620: Using the work of an

Auditor’s Expert
BY DEVANSH CHOUDHARY
ROLL NO. 112
Definition

Auditor’s Expert is referred to an individual or an organisation possessing expertise in a field

other than accounting and auditing, whose work in that field is used by the auditor to assist

the auditor in obtaining sufficient audit evidence. This SA is effective for audits of financial

statements for periods beginning on or after 1st April 2010.


Responsibility

The auditor is solely responsible for the audit opinion expressed which is not reduced by the

auditor’s use of the work of an expert. But subject to SA 620, the auditor may accept the

expert’s finding and conclusion as an appropriate audit evidence.


Objectives

The objectives of the auditor are as follows:

 To determine whether to use the work of an auditor’s expert

 If using the work of an auditor’s expert to determine whether that work is adequate for the

auditor’s purposes.
Requirements

 Determining the need for an Auditor’s Expert

 Nature, Timing and Extent of Audit Procedure

 Competence, Capabilities and Objectivity of the Auditor’s Expert

 Understanding the field of expertise

 Agreement with Auditor’s Expert

 Evaluating the adequacy of the Auditor’s Expert


Thank You

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