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Applying Professional Skepticism in an Audit

  • 05/31/2019
  • 12:00 PM - 4:00 PM



Audit inspection reports have identified issues about the level and consistency of professional skepticism being applied in audits, in particular in areas that require high levels of professional judgment. Additionally, the complexity of transactions and markets continues to increase, requiring auditors and managers to use more professional judgment during audit engagements. Professional skepticism is influenced by personal behavioral traits as well as the knowledge level of the individuals undertaking the audit. This highly interactive webcast uses case studies to provide an overview of professional skepticism, including what it is and why it is important in audit engagements. The participant will gain knowledge about how to apply professional skepticism and techniques to enhance use of professional skepticism in their own practice.   

Topics Discussed 
- Professional skepticism 
- Professional judgment 
- Judgement framework 
- Fraud triangle

When you complete this course you will be able to: 
- 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.

Designed For: Auditors of any level who would like to incorporate professional skepticism into their audits
Level: Basic
Instructor: Jennifer Elder
Developer: AICPA
CPE Credits: 4
Area of Study: Auditing  4

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