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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Professional Ethics
Hello,
If only the audit senior has experience of auditing a Listed company in a specialised industry and both the engagement partner and manager lacks the experience.
What will be the appropriate safeguard?
1) Resign from the engagement, or
2) Provide audit industry training for the team members
If there isn’t an audit partner with appropriate competence the audit should not have been accepted in the first place. You should be aware that in the UK for example, the “big 4” audit 97% of the FTSE 250.
