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Two audit partners in charge of the external audit of Virginia Enterprises have decided to retain the services of a specialist in order to effectively
Two audit partners in charge of the external audit of Virginia Enterprises have decided to retain the services of a specialist in order to effectively complete the audit of the client's inventory accounts. The client maintains specialized inventory which the auditor is unsure how to appropriately value. Examples of evidence that the specialist may generate could include 1) detailed calculations showing how the inventory has been objectively and accurately appraised, along with any supporting schedules for the calculations 2) confirmation that the specialist is independent of client management, and that management has in no way attempted to influence or bias the auditors procedures or judgement 3) all of these choices are correct
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