COM 1067.000 2006-2008 - Laserfiche WebLink

Home

02/28/2008 08:20 3265697 KCO PAGE 03 Chapter 3 General Standards Competence 3.40 The staff assigned to perform the audit or attestation engagement must collectively possess adequate professional competence for the tasks required. 3.41 The audit organization's management should assess skill needs to consider whether its workforce has the essential skills that match those necessary to fulfill a particular audit mandate or scope of audits to be performed. Accordingly, audit organizations should have a process for recruitment, hiring, continuous development, assignment, and evaluation of staff to maintain a competent workforce. The nature, extent, and formality of the process will depend on various factors such as the size of the audit organization, its structure, and its work. 3.48 Competence is derived from a blending o -education and experience. Competencies are not necessarily measured by years of auditing experience because such a quantitative measurement may not accurately reflect the kinds of experiences gained by an auditor in any given time period. Maintaining competence through a commitment to learning and development throughout an auditor's professional life is an important element for auditors. Com etence enables an auditor to make sound professional judgments. _ Technical Knowledge 3.43 The staff assigned to conduct an audit or and, Competence attestation engagement, under r A('.Al; Must collectively . possess the technical knowledge skills and experience necessary to be competent for the type of work being performed before beginning work on that assignment . The staff assigned to a GAGAS audit or attestation engagement should collectively possess ' a. knowledge of RAGAS applicable to the type uf.ky 'Qrk they are assigned and the education, skills, and 4 Page 51 GAO-07-731G Government AnditingStandards