The knowledge, skill and ability of personnel assigned engagement responsibilities should be commensurate with the auditor's assessment of the level of risk related to those responsibilities.

Question

Quizplus · Accepted Answer

This statement aligns with auditing standards which require that the audit team assigned to an engagement possess the appropriate competence and capabilities, including the necessary knowledge, skills, and abilities, to respond adequately to the assessed risks of the audit.

The Knowledge, Skill and Ability of Personnel Assigned Engagement Responsibilities