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:
- Evaluate corporate governance structures and risk assessment processes affecting the financial statements of an entity as part of the overall audit strategy.
- Analyze relevant industry, regulatory, and other external factors that are used to inform audit risk assessments including, but not limited to, market, competition, product technology, and environmental requirements.
- Evaluate the information and communications technologies environment to identify controls that relate to the financial statements to determine the impact on the overall audit strategy.
- Evaluate whether the engagement team, including auditor’s experts, collectively has the appropriate objectivity and competence to perform the audit.
- Manage audit engagements by providing leadership and project management of engagement teams.
- Promote the importance of compliance with the fundamental principles of ethics.
- Evaluate and respond to threats to objectivity and independence that can occur during an audit.