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

Professional skepticism is a core principle of due professional care in auditing. Auditors must maintain an attitude of skepticism throughout the audit process, questioning management's assertions and obtaining adequate evidence to support their conclusions. Obtaining independent, third-party documentation (A) may be a part of this process, but it is not required for every piece of evidence. Disregarding any evidence generated by the auditee (C) is not appropriate as auditors should evaluate all evidence obtained during an audit. Finding every error in financial statements (D) is not possible or practical, and auditors' responsibilities are not limited to identifying errors but to providing reasonable assurance about the fairness of financial statements as a whole.

Due Professional Care Requires Auditors To