QUOTE:
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"Instead, the auditor's responsibility is to evaluate whether the work of the company specialist provides sufficient appropriate evidence to support a conclusion regarding whether the corresponding accounts or disclosures in the financial statements are in conformity with the applicable financial reporting framework"
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UNQUOTE:
Specialist's sometimes form the very back-bone of many-an-audit report, for the simple reason that most of the times, their work is impeccable, especially if they are part of the #TopTen firms. But this #PCAOB warning ought not to be taken lightly, because it is well known how the businessmen pressurize the auditor to submit their reports on a file-yesterday-not-tomorrow basis!! Cheers!!
CA VIKRAM SHANKAR MATHUR
06-February-2025 @ 22:41 Hours IST
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