Professional skepticism

 

§  Professional skepticism is a key element of a quality audit  

§  Professional skepticism means:

·  Not accepting the evidence you have gathered at face value

·  Continuing to pursue all avenues of inquiry on the topic at hand

·  Critically assessing evidence without being overly suspicious or cynical

·  Increasing your awareness of how supporting documentation is selected & the amount of documentation that is collected

·  Corroborating management explanations or representations concerning material matters

§  Your assessment should include whether:

·  Evidence may be misleading or incomplete

·  The person providing the evidence lacks subject matter competence or is motivated to provide evidence that is misleading or incomplete

§  All of us have a professional responsibility to ask more probing questions, critically analyze the answers, & be sure we have used all of the evidence presented


170428 Views 2 Likes Comment   Share Audit   Report


About the Author

Practicing CA

Practising CA


CCI Pro

Comments


Related Articles


Loading


Popular Articles





CCI Pro
Meet our CAclubindia PRO Members

CCI Articles

submit article


Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details