Audit inspection reports have identified issues about the level and consistency of professional skepticism being applied in audits. Additionally, the complexity of transactions and markets continues to increase, requiring auditors and managers to use more professional judgment during audit engagements. This interactive course will provide an overview of professional skepticism, including what it is and why it is important in audit engagements. Featuring case studies to teach the content and concepts, this course will help participants gain knowledge about how to apply professional skepticism and techniques to enhance the use of professional skepticism in their own practice.
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• Recall the importance of professional skepticism to auditing in today’s complex environment. • Recognize concerns raised about the level of skepticism in audit performance and steps the profession is taking to address concerns. • Identify factors that influence an auditor’s use of professional skepticism. • Apply techniques that help to enhance your application of professional skepticism in an audit.
• Professional skepticism • Professional judgment • Judgement framework • Fraud triangle
Auditors of any level who would like to incorporate professional skepticism into their audits