Assignment of Engagement TeamsAssignment of Engagement Teams

Assignment of Engagement Teams

23 The engagement partner shall be satisfied that the engagement team collectively has the appropriate capabilities, competence and time to perform the audit engagement in accordance with Auditing Standards and regulatory and legal requirements, and to enable an auditor’s report that is appropriate in the circumstances to be issued.

24 The appropriate capabilities and competence expected of the engagement team as a whole include the following:

• An understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.
• An understanding of Auditing Standards and regulatory and legal requirements.
• Appropriate technical knowledge, including knowledge of relevant information technology.
• Knowledge of relevant industries in which the client operates.
• Ability to apply professional judgement.
• An understanding of the firm’s quality control policies and procedures.