CPA · Question 46 · Area IV: Forming Conclusions and Reporting
An auditor is auditing the financial statements of a nonissuer. The auditor uses a specialist to value the pension liability. The auditor concludes that the specialist's findings support the financial statement assertions. However, the auditor decides to modify the opinion due to a separate material misstatement in inventory. Can the auditor reference the specialist in the audit report?
Answer options:
No, the auditor may never reference a specialist.
Yes, but only if the reference is relevant to understanding the modification of the opinion.
Yes, provided the specialist gives permission.
No, because the specialist's work related to pension, not the inventory misstatement.
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