- 8 Marks
AA – Nov 2020 – L2 – Q3c – Audit and Assurance Evidence
Outline procedures to determine reliance on an auditor’s expert's work.
Question
Future Prospects Company Ltd is a multinational company operating in Ghana. Its core operations include management of pension funds and real estate development. In preparing the financial statements, they carry out an appraisal of the pension funds to assess its ability to pay benefits to contributors. Periodic revaluation of lands and buildings was also carried out.
Required:
Outline FOUR (4) procedures you will follow to determine whether you can place reliance on work performed by an auditor’s expert.
(8 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Audit Procedures, Auditor’s Assessment, Evaluation, Expert Reliance, Work Quality
- Level: Level 2
- Topic: Audit and Assurance Evidence
- Series: NOV 2020
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