Statement on auditing standards, 011

              Statement on
Auditing Standards
December 1975 11
AICPA
Issued by the Auditing Standards Executive Committee
American Institute of
Certified Public Accountants
Using the Work of a Specialist
1. The purpose of this Statement is to provide guidance to the
auditor who uses the work of a specialist in performing an examination
of financial statements in accordance with generally accepted audit­ing
standards. 1 For purposes of this Statement, a specialist is a person
( or firm) possessing special skill or knowledge in a particular field
other than accounting or auditing. Examples of such specialists in­clude
actuaries, appraisers, attorneys, engineers, and geologists. 2
Decision to Use the Work of a Specialist
2. The auditor's education and experience enable him to be knowl­edgeable
about business matters in general, but he is not expected to
have the expertise of a person trained for or qualified to engage in the
practice of another profession or occupation. During his examination,
however, an auditor may encounter matters potentially material to
the fair presentation of financial statements in conformity with gen­erally
accepted accounting principles that require special knowledge
and that in his judgment require using the work of a specialist.
1 This Statement does not apply to using the work of a specialist who is a member
of the auditor's staff, or to the form or content of letters of audit inquiry concern­ing
litigation, claims, or assessments and lawyers' responses thereto.
2 For purposes of this Statement, a person whose special skill or knowledge relates
to the internal affairs or business practices of the client, such as a credit or plant
manager, is not considered a specialist.
Copyright © 1976 by the
American Institute of Certified Public Accountants, Inc.
1211 Avenue of the Americas, New York, N. Y. 10036