Audit Issues & Trends Your Content Goes Here Audit issues and trends to consider: Reliance on expert reports Audit client management often employs experts to assist with determining values for complex estimates or matters falling outside the expertise of management, e.g. valuations, IFRS review. It is often found that auditors place undue reliance on work performed and reports produced by such experts, without verifying the methods applied and assumptions made by the experts. The results of their work are also not checked carefully when amended, e.g. IFRS reviews on amended draft financial statements. If information to be used [...]