Which situation might require the involvement of an auditor's expert?

In the context of auditing, the involvement of an auditor's expert is often necessary when dealing with non-accounting subject matters that require specialized knowledge outside the auditor's expertise. This ensures that the auditor can obtain sufficient appropriate audit evidence to support their audit opinion.

For example, if an audit involves assessing the fair value of a specialized asset, such as complex financial instruments or certain types of intangible assets, the auditor may not have the technical skills necessary to evaluate these assets accurately. Engaging an expert in valuation allows the auditor to rely on their specialized skills and knowledge, which may include advanced techniques and industry-specific insights that the auditor does not possess.

While interpreting complex accounting standards might also require a level of expertise, this typically falls within the auditor's scope of skills. Routine financial audits involve standard processes that auditors are trained to conduct without needing additional expertise. Similarly, financial statement preparation is a responsibility of the management of the entity being audited, not typically requiring the auditor's expert involvement.