Define professional skepticism

Assignment Help Auditing
Reference no: EM13178707 , Length: 1800 Words

In Zoe-Vonna Palmrose's article "PCAOB Audit Regulation a Decade after SOX: Where it Stands and What the Future Holds," she discussed the importance of Auditor Skepticiism and the emphasis of this concept on PCAOB initiatives. In fact, it would appear that in many of the cases that we read in this course, the auditors lacked exercising "Professional Skepticism."

Define professional skepticism and discuss why it so important to the practice of auditing. Read the attached article, "A Model and Literature Review of Professional Skepticism in Auditing" by Mark W.

In addition, evaluate how this work may be applied in today's audit environment, and how this research may be used in the work of the PCAOB in establishing audit standards. ( if you use any reference please include them.

Download:- Review of Professional Skepticism in Auditing.pdf

Verified Expert

Reference no: EM13178707

Questions Cloud

What is the marginal cost : What is the average cost per unit to produe 100 units?
Compare the mean baseline hamilton depression score : Compare the mean baseline Hamilton depression score between paroxetine and placebo groups. Is there a significant difference between the means in two groups? Justify your answer.
State the calorimeter well for the kcal determination fell : If a few drops of water on the outside of the hot water syringe used to dispense the 5.00 mL sample into the calorimeter well for the Kcal determination fell into the well
State the calorimeter well for the kcal determination fell : If a few drops of water on the outside of the hot water syringe used to dispense the 5.00 mL sample into the calorimeter well for the Kcal determination fell into the well
Define professional skepticism : Define professional skepticism and discuss why it so important to the practice of auditing. Read the attached article, "A Model and Literature Review of Professional Skepticism in Auditing" by Mark W.
What pricing strategy will yield the greatest revenue : The manufacture has determined that men value a simple microwave at $70 and one with auto-defrost at $80 while women value a simple microwave at $80 and one with auto-defrost at $150. If there is an equal number of men and women, what pricing str..
State the temperature of the acid solution increases : The temperature of the acid solution increases from 24.2 oC to 29.9 oC. Calculate deltaH for the reaction that occurred.
What is the volume of the solid : the base of a solid is an ellipse whose major axis and minor axis are 12 and 8cm long, respectively. what is the volume of the solid if every section perpendicular to the major axis is an is an equilateral triangle.
What is the net societal benefit : In response to pressure from environmentalists the government now tightens the maximum damage standard to 4 units. How much fertilizer will farmers use now? What will their profit be? What is the net societal benefit? What is the value of ??

Reviews

Write a Review

Auditing Questions & Answers

  Determine ordering cost per order

Determine ordering cost per order

  Evaluate the child credit for the subsequent taxpayer

Evaluate the child credit for the subsequent taxpayer and How much credit would they claim?

  Internal control-management

Internal control has gained increasing importance among management, external auditors, regulators, and others. Use a specific example that illustrates the answer.

  Firms average collection period-current receivable balanace

Calculate the firm's average collection period. Calculate the firm's current receivables balance. Calculate the firm's new receivables balance if Milwaukee Surgical toughened up on its collection policy, with the result that all non-discount custom..

  Evaluate inherent risks and residual risks

Create a Global Organizational Hierarchy for Champion Pharmaceutical, Inc. (CPI) using the information about the company provided in the Introduction to the TeamMate Practice Case

  Audit of peach blossom cologne company

Imagine that you're the Senior Auditor on the Peach Blossom Cologne Company audit. The Partner on the engagement comes into your office and tells you she's not satisfied with the memo that Jasper Parsons (the former Senior) wrote on Understanding ..

  Internal control questionnaire

What is the general nature of the questions included in internal control questionnaires? Identify several advantages of using questionnaires to document the auditor's understanding of internal control.

  Explain how the control would work

what sort of prevent control could be use to deal with the problem face by amy? explain how the control would work?

  Audit materiality

Why might planning materiality differ from the materiality level used in evaluating audit findings? What official quantitative guidelines exist for financial statement materiality? Identify one of the quantitative guidelines commonly used in practi..

  Bank and investor

Do some research on your bank using the Internet and the CyberLibrary, and write a short paper that put it all together in making a recommendation on whether or not you think one should buy shares in your bank as part of your own investment portfo..

  Question on auditor independence

What are the auditor independence issues surrounding the provision of external auditing services, internal auditing services, and management consulting services for the same client?

  Owner invests cash in exchange for stock

Owner invests cash in exchange for stock and pays cash for employee wages, incurs legal costs on credit and receives cash for services provided

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd