The auditor evaluates the expert's competence, capabilities and objectivity, agrees the scope of the work and evaluates the adequacy of the findings. Responsibility for the opinion always remains with the auditor.
Source: BDS 620
Related terms
Audit evidenceAny information and documents the auditor uses to reach the conclusions on which the opinion is based.ValuationEstimating the monetary value of a company, share, asset or liability at a specific date and for a specific purpose.Accounting estimatesThe determination by management judgement of amounts that cannot be measured precisely, such as provisions, useful lives, expected credit losses and fair values.Adverse opinionThe opinion in which the auditor states that the financial statements are not presented fairly, where misstatements are both material and pervasive.Agreed-upon proceduresAn engagement in which the practitioner performs procedures agreed with the entity and, where relevant, a third party, and reports only the findings without providing assurance.Analytical proceduresThe evaluation of financial information through analysis of plausible relationships among financial and non-financial data.
Last updated: October 31, 2026 · This definition is for general information only.