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Nikolas Nikolas
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Discuss the need for maintaining professional skepticism during an audit.
Textbook 

Auditing and Assurance Services


Edition: 17th
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kayekalicokayekalico
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Auditing standards require that the audit be planned and performed with an attitude of professional skepticism in all aspects of the engagement, recognizing the possibility that a material misstatement could exist regardless of the auditor's prior experience with the integrity and honesty of client management and those charged with governance. In practice, maintaining this attitude can be difficult because, despite some recent high-profile financial statement frauds, material frauds are infrequent compared to the number of audits of financial statements conducted annually.

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