Learning Outcomes for the Professional Competence of an Engagement
Partner
Engagement Partner to develop and maintain professional competence that is demonstrated by the achievement of learning outcomes including, but not limited to, those listed under the competence areas below:
- Lead the audit through active involvement during all phases of the audit engagement.
- Lead the identification and assessment of the risks of material misstatement.
- Develop an audit plan that responds to the risks of material misstatement identified.
- Evaluate responses to the risks of material misstatement.
- Conclude on the appropriateness and sufficiency of all relevant audit evidence, including contradictory evidence, to support the audit opinion.
- Evaluate whether the audit was performed in accordance with International Standards on Auditing or other relevant auditing standards, laws, and regulations applicable to an audit of the financial statements.
- Develop an appropriate audit opinion and related auditor’s report, including a description of key audit matters as applicable.
Promote audit quality and compliance with professional standards and regulatory requirements with a focus on protecting the public interest.
- Apply professional judgment in planning and performing an audit and reaching conclusions on which to base an audit opinion.
- Promote the importance of the application of professional skepticism during all phases of the audit engagement.
- Apply professional skepticism to critically assess audit evidence obtained during the course of an audit and reach well-reasoned conclusions.
- Evaluate the impact of individual and organizational bias on the ability to apply professional skepticism.
- Apply professional judgment to evaluate management’s assertions and representations.
- Resolve audit issues using critical thinking to consider alternatives and analyze outcomes.
ISA Training