Auditors frequently use valuation specialists to help them improve the quality of audits of fair values, but problems related to specialists' involvement suggest specialists do not always improve audit quality. I interviewed 28 audit partners and managers with extensive experience using...

Auditors frequently use valuation specialists to help them evaluate fair values, but problems related to specialists' involvement suggest the potential benefits of specialists' involvement are under-realized. I interviewed 28 auditors and 14 valuation specialists to investigate how auditors use...