Management’s expert
A management’s expert is an individual or organisation with expertise in a field other than accounting or auditing whose work helps the entity prepare its financial statements. The auditor evaluates the expert’s competence, capabilities, objectivity and work as relevant to audit evidence.
Worked example
Management uses an actuary to estimate a pension obligation; the auditor evaluates the actuary’s work and relevant assumptions.
Common mistake
Do not treat a management-appointed expert as the auditor’s own expert or accept the estimate without evaluation.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Direct | September 2026–June 2027 |
| ACCA | AAA (INT) | Direct | September 2026–June 2027 |