Explain me SA 600 work of Another Auditor
0
0
Answer Now
Comment
Report
1
Answers
Important Note โ Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures โ online & in Pen Drive/ DVD โ at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below โ
For any questions Request A Call Back
Dear Amit,
> SA 600: Using the work of Another Auditor
matter and provision of SA 600 work of Another Auditor is as follow
NEED
When the principal auditor uses the work of another auditor, the principal auditor should determine how the work of other auditor will affect the audit
MATTER OF SA
Auditor should consider professional competence of other auditor in the context of specific assignment if the other auditor is not a Chartered Accountant. Auditor should inform other auditor of matters such as areas requiring special consideration, procedures for identification of interโcomponent transactions and significant accounting, auditing and reporting requirements
Auditor should consider significant findings of other auditor.
There should be proper coโordination and communication between the two auditors
When the principal auditor concludes that work of other auditor cannot be used and s/he has not been able to perform sufficient additional procedures regarding financial information of the component audited by other auditor, s/he should express a qualified opinion or disclaimer of opinion because there is a limitation on the scope of audit
RESPONSIBLITY
The principal auditor would not be responsible in respect of the work entrusted to other auditors
Regards,
Arjun