Document ID: chunk:federal_register_of_legislation:F2022C01191:reg:8:p16
Version: federal_register_of_legislation:F2022C01191
Segment Type: reg
Provision Reference: reg 8 (pt 16/17)
Character Range: 49725–52965

and extent of the auditor's review of the auditor's external expert's work.

      * Whether the auditor or the auditor's external expert will test source data.

      * The auditor's external expert's access to the entity's records, files, personnel and to experts engaged by the entity.

      * Procedures for communication between the auditor's external expert and the entity.

      * The auditor's and the auditor's external expert's access to each other's working papers.

      * Ownership and control of working papers during and after the engagement, including any file retention requirements.

      * The auditor's external expert's responsibility to perform work with due skill and care.

      * The auditor's external expert's competence and capability to perform the work.

      * The expectation that the auditor's external expert will use all knowledge that expert has that is relevant to the audit or, if not, will inform the auditor.

      * Any restriction on the auditor's external expert's association with the auditor's report.

      * Any agreement to inform the auditor's external expert of the auditor's conclusions concerning that expert's work.

Communications and Reporting

      * Methods and frequency of communications, including:

           * How the auditor's external expert's findings or conclusions will be reported (for example, written report, oral report, ongoing input to the engagement team).

           * Identification of specific persons within the engagement team who will liaise with the auditor's external expert.

      * When the auditor's external expert will complete the work and report findings or conclusions to the auditor.

      * The auditor's external expert's responsibility to communicate promptly any potential delay in completing the work, and any potential reservation or limitation on that expert's findings or conclusions.

      * The auditor's external expert's responsibility to communicate promptly instances in which the entity restricts that expert's access to records, files, personnel or experts engaged by the entity.

      * The auditor's external expert's responsibility to communicate to the auditor all information that expert believes may be relevant to the audit, including any changes in circumstances previously communicated.

      * The auditor's external expert's responsibility to communicate circumstances that may create threats to that expert's objectivity, and any relevant safeguards that may eliminate or reduce such threats to an acceptable level.

Confidentiality

      * The need for the auditor's expert to observe confidentiality requirements, including:

           * The confidentiality provisions of relevant ethical requirements that apply to the auditor.

           * Additional requirements that may be imposed by law or regulation, if any.

           * Specific confidentiality provisions requested by the entity, if any.

[*]  Early adoption, in conjunction with ASA 315 Identifying and Assessing the Risks of Material Misstatement, permitted.
  [1]  See ASA 220 Quality Management for an Audit of a Financial Report and Other Historical Financial Information, paragraph A19.
  [2]  See ASA 500 Audit Evidence, paragraphs