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Chapter 53 4

4.4 Human resources

The engagement partner should ensure that the engagement team collectively have
the competence and capabilities to perform the audit in accordance with professional
standards. This includes knowledge of professional standards, knowledge of relevant
industries in which the client operates, the ability to apply judgment and an
understanding of the firm's quality control policies and procedures.

4.5 Engagement performance

Engagement performance comprises direction, supervision and review of the
engagement.

Direction involves informing team members of:

 their responsibilities

 objectives of the work to be performed

 the nature of the business

 risks

 problems that may arise

 the detailed approach to the performance of the engagement.

Supervision includes:

 Tracking the progress of the audit to ensure the timetable can be met

 Considering the competence of the team

 Addressing significant matters arising and modifying the planned approach
accordingly

 Identifying matters for consultation. Consultation may be required where the
firm lacks appropriate internal expertise.

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