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Hi Kim hope u are well.
below points are only required when dealing with the work of auditor’s external expert (not management’s expert). is that correct?
The work to be performed by the expert has to be clearly defined:
? Its nature, scope and objectives
? The respective responsibilities of the auditor and the third party have to be defined.
? The nature, scope and timing of communications must be set out.So sorry for the late reply – this is actually covered also in the AAA notes where the chapter is mostly about ISA 620 rather than ISA 500. Also I think you can see that it would have to be the auditor’s expert because the auditor can’t direct the work of management’s expert (because management’s expert is contracted to the client, in some way).
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