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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 40 / 352

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© D.L. Crumbley

Using Work of Specialists (SAS No.73)

Specialist defined: a professional service firm or individual who possesses special skills or knowledge in a particular field other than accounting and auditing

To reply on specialist’s findings, auditor

Must understand the objectives and scope of work performed.

Assumptions used must be clear to auditor.

Auditor must consider the appropriateness of utilizing the specialists findings.

Auditor must test the data that client provides to the specialist.

Auditor must evaluate whether findings support the assertions in the financial statements.

If specialist’s findings inconsistent, SAS No.73 provides additional procedures which auditor must follow.

Auditor will need copies of workpapers of specialists.

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