EBK AUDITING: A RISK BASED-APPROACH
11th Edition
ISBN: 9781337670203
Author: RITTENBERG
Publisher: YUZU
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Question
Chapter 1, Problem 33RQSC
To determine
Concept Introduction:
Professional Skepticism−In the course of making professional judgment, the auditor has to exercise professional skepticism. Professional skepticism means having a questioning mind and critically assessing the available audit evidences.
To explain:The importance of the professional skepticism and steps taken by skeptical auditor.
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For what does an auditor use professional skepticism?
Explain professional skepticism and why it is important for all auditors.
Why is professional skepticism important when completing an audit? Please explain.
Chapter 1 Solutions
EBK AUDITING: A RISK BASED-APPROACH
Ch. 1 - Prob. 1CYBKCh. 1 - Prob. 2CYBKCh. 1 - Prob. 3CYBKCh. 1 - Prob. 4CYBKCh. 1 - Prob. 5CYBKCh. 1 - Prob. 6CYBKCh. 1 - Prob. 7CYBKCh. 1 - Prob. 8CYBKCh. 1 - Prob. 9CYBKCh. 1 - Prob. 10CYBK
Ch. 1 - Prob. 11CYBKCh. 1 - Prob. 12CYBKCh. 1 - Utilitarian theory holds that what is ethical is...Ch. 1 - Prob. 14CYBKCh. 1 - Which of the following statements related to...Ch. 1 - Utilitarianism does not require which of the...Ch. 1 - Prob. 17CYBKCh. 1 - Prob. 18CYBKCh. 1 - Prob. 19CYBKCh. 1 - Which of the following factors is not an example...Ch. 1 - Prob. 1RQSCCh. 1 - Prob. 2RQSCCh. 1 - Prob. 3RQSCCh. 1 - Prob. 4RQSCCh. 1 - Prob. 5RQSCCh. 1 - Prob. 6RQSCCh. 1 - Prob. 7RQSCCh. 1 - Prob. 8RQSCCh. 1 - Prob. 9RQSCCh. 1 - Prob. 10RQSCCh. 1 - Prob. 11RQSCCh. 1 - Prob. 12RQSCCh. 1 - Prob. 13RQSCCh. 1 - Prob. 14RQSCCh. 1 - Prob. 15RQSCCh. 1 - Prob. 16RQSCCh. 1 - Prob. 17RQSCCh. 1 - Prob. 18RQSCCh. 1 - Prob. 19RQSCCh. 1 - Prob. 20RQSCCh. 1 - Prob. 21RQSCCh. 1 - Prob. 22RQSCCh. 1 - Prob. 23RQSCCh. 1 - Prob. 24RQSCCh. 1 - Prob. 25RQSCCh. 1 - Prob. 26RQSCCh. 1 - Prob. 27RQSCCh. 1 - Prob. 28RQSCCh. 1 - Prob. 29RQSCCh. 1 - Prob. 30RQSCCh. 1 - Prob. 31RQSCCh. 1 - Refer to the Why It Matters feature “What Is...Ch. 1 - Prob. 33RQSCCh. 1 - Prob. 34RQSCCh. 1 - Prob. 35RQSCCh. 1 - Prob. 36RQSCCh. 1 - Prob. 37RQSCCh. 1 - As the auditor for XYZ Company, you discover that...Ch. 1 - Prob. 39RQSCCh. 1 - Prob. 40RQSCCh. 1 - Prob. 41RQSCCh. 1 - Prob. 42RQSCCh. 1 - Prob. 43FFCh. 1 - Prob. 44FFCh. 1 - Prob. 45FFCh. 1 - Prob. 46FF
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Similar questions
- Refer to the Why It Matters feature “What Is Professional Judgment?” Explain the term professional judgment.arrow_forwardWhat are the main threats to auditor's ethics?arrow_forwardHow might an auditor's individual characteristics affect his or her professional judgments about materiality?arrow_forward
- In referencing professional standards, what factors should auditors consider in evaluating potential going-concern uncertainties?arrow_forwardwhat is the importance of ethical conduct for auditorsarrow_forwardAuditors behave in a questioning manner when evaluating material and drawing conclusions as a result of their skepticism. In this sense, objectivity and auditor independence are two important ethical standards that are inextricably tied to professional skepticism. The auditor's independence improves the auditor's capacity for moral behavior, objectivity, and professional skepticism.arrow_forward
- What is in the nature of work of an auditor that puts his or her safety at risk? Answer in your own wordsarrow_forwardExplain why professional skepticism would be critical in assessing and responding to the risk of fraud.arrow_forwardDo you think the concept of materiality is incompatible with ethical behavior? Consider in your answer how materiality judgments affect risk assessment in an audit of financial statements.arrow_forward
- Professional skepticism is a. Necessary to gain more profit. b. An attitude that includes a questioning mind. c. One of the professional code of ethics. d. The auditor’s application of relevant training, knowledge and experience.arrow_forwardWhat is meant by the evaluation of a client's ability to continue as a going concern? What are some situations that would require modification of the auditor's opinion related to going concern? What is the auditor's responsibility for assessing a client's ability to continue as a going concern?arrow_forwardHow can an auditor reduce a client’s inherent risk?arrow_forward
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