ACCA AAA ^INT Syllabus D. Audit of Historical Financial Information - The work of component auditors - Notes ^{7 / 8}

She will look at..

1. Their competence, qualifications and experience

2. The procedures carried out to obtain sufficient, appropriate evidence that the work of the other auditor is adequate

3. The findings of the other auditor

4. The strategy of the other auditor

The principal auditor should also..

• Perform risk assessment on components

• Evaluate business risk of components

• Evaluate susceptibility of other auditors to error

• Attend the closing meetings of component audit

• Review of component files

• Evaluate whether further substantive testing should be performed at a component level