Reliance Factors – NBC Institute

AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits

Evaluate the significance of expert evidence and factors to consider before relying on a specialist’s report in audits.

Question

In connection with Accountancy and Audit, an Expert or Specialist is a firm or person that possesses special skills in a profession other than Accountancy.

Required:
i. What is the significance of evidence from Experts to an auditor? (2 Marks)
ii. Identify THREE factors to be considered before placing reliance on the report of a Specialist. (3 Marks)

Answer

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Tags: Audit evidence, Reliance Factors, Specialist Report, Use of Experts
Level: Level 3

Topic: Use of Experts in Audits

AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence

Explain five factors that determine reliance on analytical procedures.

Question

ISA 520: “Analytical Procedures” provides guidance to auditors on the use of analytical procedures during the course of an external audit.

Required:
Explain FIVE (5) factors to consider when determining the extent of reliance that can be placed on the results of such procedures. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical procedures, Audit, ISA 520, Reliance Factors
Level: Level 2

Topic: Audit and Assurance Evidence
Series: APR 2022

AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits

Evaluate the significance of expert evidence and factors to consider before relying on a specialist’s report in audits.

Question

In connection with Accountancy and Audit, an Expert or Specialist is a firm or person that possesses special skills in a profession other than Accountancy.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, Reliance Factors, Specialist Report, Use of Experts
Level: Level 3

Topic: Use of Experts in Audits

AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence

Explain five factors that determine reliance on analytical procedures.

Question

ISA 520: “Analytical Procedures” provides guidance to auditors on the use of analytical procedures during the course of an external audit.

Required:
Explain FIVE (5) factors to consider when determining the extent of reliance that can be placed on the results of such procedures. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical procedures, Audit, ISA 520, Reliance Factors
Level: Level 2

Topic: Audit and Assurance Evidence
Series: APR 2022

Question Tag: Reliance Factors

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AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits

Evaluate the significance of expert evidence and factors to consider before relying on a specialist’s report in audits.

AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence

Explain five factors that determine reliance on analytical procedures.

AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits

Evaluate the significance of expert evidence and factors to consider before relying on a specialist’s report in audits.

AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence

Explain five factors that determine reliance on analytical procedures.

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AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits

Evaluate the significance of expert evidence and factors to consider before relying on a specialist’s report in audits.

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AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence

Explain five factors that determine reliance on analytical procedures.

You're reporting an error for "AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence"

AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits

Evaluate the significance of expert evidence and factors to consider before relying on a specialist’s report in audits.

You're reporting an error for "AAA – Nov 2016 – L3 – Q3b – Use of Experts in Audits"

AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence

Explain five factors that determine reliance on analytical procedures.

You're reporting an error for "AA – April 2022 – L2 – Q1b – Audit and Assurance Evidence"

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