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Professional skepticism

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What is meant by professional skepticism? Can you think of a situation where the evidence says one thing but your gut tells you something else?

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Solution Summary

Professional skepticism in auditing implies an attitude that includes a questioning mind and a critical assessment of audit evidence without being obsessively suspicious or skeptical.

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Professional skepticism in auditing implies an attitude that includes a questioning mind and a critical assessment of audit evidence without being obsessively suspicious or skeptical. Such an attitude results, for example, in the auditor asking more questions then usual, and more probing questions, critically analyzing these answers and then studiously comparing this analysis with other evidence gathered.

Auditors adopt an attitude of professional skepticism when they evaluate audit evidence. When ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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