ASA 620 - Using the Work of an Expert - April 2006
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ISSN 1833-4393
CONTENTS
PREFACE
AUTHORITY STATEMENT
Paragraphs
Application.................................. 1-2
Operative Date................................ 3
Introduction.................................. 4-9
Determining the Need to Use the Work of an Expert....... 10-11
Competence and Objectivity of the Expert.............. 12-16
Scope of the Expert’s Work....................... 17-18
Evaluating the Work of the Expert................... 19-24
Reference to an Expert in the Auditor’s Report........... 25-27
Conformity with International Standards on Auditing...... 28
Preface
Reasons for Issuing Auditing Standard ASA 620 Using the Work of an Expert
The Auditing and Assurance Standards Board (AUASB) issues Auditing Standard ASA 620 Using the Work of an Expert due to the requirements of the legislative provisions explained below.
The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (the CLERP 9 Act) established the AUASB as an independent statutory body under section 227A of the Australian Securities and Investments Commission Act 2001, as from 1 July 2004. Under section 336 of the Corporations Act 2001, the AUASB may make Auditing Standards for the purposes of the corporations legislation. These Auditing Standards are legislative instruments under the Legislative Instruments Act 2003.