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IAASB Q&A document on professional scepticism

  • IAASB (International Auditing and Assurance Standards Board) (lt gray) Image

05 Mar 2012

The staff of the International Auditing and Assurance Standards Board (IAASB) have released a new question-and-answer (Q&A) publication designed to re-emphasises to auditors the importance of an attitude of professional scepticism when performing their role.

The publication, Professional Skepticism in an Audit of Financial Statements, (link to IFAC website),  focuses on the requirements and application material in the ISAs and the IAASB’s quality control standard that are of particular relevance to the proper understanding and application of professional scepticism during an audit of financial statements.

In addition, answers are provided regarding what audit firms and auditors can do to enhance awareness of the importance of professional scepticism, identify aspects of an audit where professional scepticism may be particularly important, and how professional scepticism can be evidenced.

Click for IAASB press release (link to IFAC website).

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