[The following paragraph is effective for audits of financial statements for fiscal years ending before December 15, 2020. See PCAOB Release No. 2018-006. The paragraph effective for audits of financial statements for fiscal years ending on or after December 15, 2020, can be found here.]
In some engagements to examine MD&A, the nature of complex or subjective matters potentially material to the MD&A presentation may require specialized skill or knowledge in a particular field other than accounting or auditing. For example, the entity may include information concerning plant production capacity, which would ordinarily be determined by an engineer. In such cases, the practitioner may use the work of a specialist and should consider the relevant guidance in AS 1210, Using the Work of a Specialist. AS 1201, Supervision of the Audit Engagement, provides relevant guidance for situations in which a specialist employed by the practitioner's firm participates in the examination.