Event Description

The public places high value assurance services provided by an external public accountant, as the CPA’s involvement directly enhances the degree of confidence intended users can place on the financial statements to make economic decisions. A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. Professional skepticism is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error.

Objectives

Recognize traits of a skeptical auditor
• Explain applying professional skepticism on any assurance service
• Recall fraud, including examples of fraud indicators
• Identify the auditor’s responsibility for identifying and responding to fraud in a financial statement audit