[Answer] A significant aspect of most audit engagements is the use of an ____ specialist.

Answer: understanding circumstances financial statements management
A significant aspect of most audit engagements is the use of an ____ specialist.
In addition to technical competence auditor independence is the most important factor in establishing the credibility of the audit opinion. Auditor independence is commonly referred to as the cornerstone of the auditing profession since it is the foundation of the public’s trust in the accounting profession.
Tue Feb 22 2005 13:30:00 GMT-0500 (Eastern Standard Time) · The most common example is an auditee that knows that the current auditor is going to issue a qualified adverse or disclaimer of opinion report who then rescinds the audit engagement before the opinion is issued and subsequently “shops” for another auditor who is willing to issue an “unqualified” opinion regardless of any qualifying …
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An internal audit checklist can be a helpful tool to identify common risks and desired controls in the specific process or specific industry being audited. Developing and executing a risk-based sampling and testing approach to determine whether the most important management controls are …
Etymology. The word ” audit ” derives from the Latin word audire which means “to hear”.. History. During medieval times when manual bookkeeping was prevalent auditors in Britain used to hear the accounts read out for them and checked that the organization’s personnel were not negligent or fraudulent. In 1951 Moyer identified that the most important duty of the auditor was to detect fraud.
Most importantly due to the format of state and local government financial statements under GAAP the AICPA Audit Guide for State and Local Governments requires auditors to consider materiality by “opinion unit” rather than for the financial statements taken as a whole. The Guide defines opinion units as follows:
Continuous a…

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