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How should the audit team issue an opinion if the specialist finds errors?

If audit team engages a specialist and the specialist findings indicate that the company’s financials do not conform with GAAP or there are other issues, then the audit team should issue a modified opinion. In the modified opinion, the audit team should include an explanatory paragraph to explain the use of a specialist and the issues found.


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  • What types of specialists are used in an audit?

    Specialists will be referred to by auditors when conducting audit engagements and predetermining the resources that they will need. Like internal auditors, specialists can be used by external auditors when it is necessary, or when there are certain components of an audit engagement that the independent auditor does not fully understand. Also, like internal auditors, […]

  • What are some examples of where a specialist would be used in an audit?

    There is no definitive list of audit areas that require the use of a specialist. It is completely up to the audit team to determine if they need a specialist. Specialists will be used for but are not limited to:

  • For an unmodified opinion, does the opinion reference the use of specialists?

    If the auditor has issued an unmodified opinion, they will not be required to reference the work of the specialist. However, if the auditor has issued a modified opinion (qualified, adverse, or disclaimer), they should refer to the specialist if the information gathered from their work enables the readers of the financial statements to better […]