Due professional care requires auditors to
A) Obtain independent, third party (non-auditee) documentation as evidence for all information presented in the financial statements.
B) Exercise professional skepticism during the audit.
C) Disregard any evidence generated by the auditee during the audit.
D) Find every error contained in the financial statements prepared by management.

Question

Quizplus · Accepted Answer

Exercising professional skepticism is a fundamental requirement of due professional care for auditors. It means that auditors should approach the audit with a questioning mind and critically evaluate the evidence obtained during the audit to ensure that it is reliable and relevant in supporting the audit opinion. The other options are not correct: obtaining independent third-party documentation for all information presented in the financial statements may not always be feasible or necessary, disregarding any evidence generated by the auditee would go against the principle of obtaining sufficient and appropriate evidence, and finding every error in the financial statements may not be possible due to inherent limitations in the audit process.

Due Professional Care Requires Auditors to