The purpose of Alert No.10 from the PCAOB is to _______.
A)remind auditors of the requirement to appropriately apply professional skepticism throughout the audit, as well as various judgments about certain situations
B)present the new auditing standard
C)present a listing of which registered accounting firms failed to exercise professional skepticism
D)present a detailed report listing the client companies that need more scrutinizing by audit firms regarding fraud red flags

Question

Quizplus · Accepted Answer

Alert No.10 from the PCAOB is intended to remind auditors of the importance of applying professional skepticism throughout the audit process, and to provide guidance on applying professional judgment in specific situations. It does not present a new auditing standard, list accounting firms that failed to exercise professional skepticism, or provide a detailed report on client companies requiring more scrutiny.

The Purpose of Alert No