Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Chapter 2, Problem 36RSCQ

a.

To determine

Introduction:Professional skepticism can be explained as the confirmation of information through inquiry, the significant evaluation of the shreds of evidence obtained and focusing more on the inconsistencies.

To explain:The term professional skepticism.

b.

To determine

Introduction:Professional skepticism can be explained as the confirmation of information through inquiry, the significant evaluation of the shreds of evidence obtained and focusing more on the inconsistencies.

To identify:The reason why professional skepticism is helpful in frauds detection.

c.

To determine

Introduction:Professional skepticism can be explained as the confirmation of information through inquiry, the significant evaluation of the shreds of evidence obtained and focusing more on the inconsistencies.

To identify:The key behaviors that are necessary for professional skepticism.

d.

To determine

Introduction:Professional skepticism can be explained as the confirmation of information through inquiry, the significant evaluation of the shreds of evidence obtained and focusing more on the inconsistencies.

To identify:The difficulties for auditors to exercise professional skepticism.

e.

To determine

Introduction:Professional skepticism can be explained as the confirmation of information through inquiry, the significant evaluation of the shreds of evidence obtained and focusing more on the inconsistencies.

To identify: The characteristics and behaviors of the client companies to examine the authenticity in evidences provided by them.

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Students have asked these similar questions
In making client acceptance and continuance decisions, the auditor will perform various procedures in assessing the client.  Which of these would most likely not be one of those procedures? a. obtain background checks on management to assess management integrity b. review regulatory filings and examination reports c. analyze client financial statements and compare to industry metrics d. submit management to a lie detector test
Critically evaluate how the breach of ethics by auditors could contribute to expand the audit expectation gap. Your report should include/address the following concerns: 1. Introduce/analyze ethical aspect of auditors and audit expectation gap. 2. Critically examine how different threats to ethics enlarge the audit expectation gap. 3. Propose ways to minimize the threats to ethics and thus the expectation gap of audits. 4. Determine the current developments and future direction of ethical aspects of auditors, and explain how such developments contribute to safeguard the audit profession as a concluding remarks. Include a cover page, an executive summary, a table of contents and references. You may include an appendix if necessary.
Which of the following is an accurate statement about professional skepticism? Select one: a. Professional skepticism involves a critical assessment of the evidence. Professional skepticism involves a critical assessment of the evidence. b. Professional skepticism is only necessary for the audits of public companies c. It is easy for auditors to understand that their clients may try to deceive them throughout the audit process d. Professional skepticism is easy to implement in practice.
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