Assessing the Need for Expertise
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Which of the following factors does the auditor consider when determining the need to use the work of an auditor's expert?

  • The size of the engagement team
  • The availability of audit evidence
  • The auditor's personal preference
  • The risk of material misstatement (correct)

    • What does the auditor evaluate when assessing the professional competence of an expert?

  • The expert's professional certification or licensing (correct)
  • The expert's personal opinions
  • The expert's availability for future engagements
  • The expert's relationship with the engagement team

    • What does the establishment of the overall audit strategy involve?

  • Evaluating the quality of audit evidence
  • Identifying all potential risks
  • Setting the reporting objectives (correct)
  • Determining the scope of the audit engagement

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