Learning Outcomes for the Professional Competence of an Engagement

​Partner

​Engagement Partner to develop and maintain professional competence that is demonstrated by the achievement of learning outcomes including, but not limited to, those listed under the competence areas below:

• Lead the audit through active involvement during all phases of the audit engagement.
• Lead the identification and assessment of the risks of material misstatement.
• Develop an audit plan that responds to the risks of material misstatement identified.
• Evaluate responses to the risks of material misstatement.
• Conclude on the appropriateness and sufficiency of all relevant audit evidence, including contradictory evidence, to support the audit opinion.
• Evaluate whether the audit was performed in accordance with International Standards on Auditing or other relevant auditing standards, laws, and regulations applicable to an audit of the financial statements.
• Develop an appropriate audit opinion and related auditor's report, including a description of key audit matters as applicable.

​Promote audit quality and compliance with professional standards and regulatory requirements with a focus on protecting the public interest.

• Apply professional judgment in planning and performing an audit and reaching conclusions on which to base an audit opinion.
• Promote the importance of the application of professional skepticism during all phases of the audit engagement.
• Apply professional skepticism to critically assess audit evidence obtained during the course of an audit and reach well-reasoned conclusions.
• Evaluate the impact of individual and organizational bias on the ability to apply professional skepticism.
• Apply professional judgment to evaluate management's assertions and representations.
• Resolve audit issues using critical thinking to consider alternatives and analyze outcomes.