What is professional skepticism?

Question

Accepted Answer

Professional scepticism is the attitude of questioning and critically assessing information and evidence in order to form an independent and objective opinion.

Professional scepticism involves maintaining a questioning mindset and not accepting information at face value.
It requires auditors to critically evaluate evidence, assumptions, and conclusions.
Auditors should be alert to potential biases, conflicts of interest, and inconsistencies in the information they are reviewing.
Examples include challenging management's explanations for unusual transactions, verifying the accuracy of financial data, and considering alternative explanations for discrepancies.
Professional scepticism is essential for auditors to maintain their independence and integrity in their work.

Accepted Answer

Applying a questioning mind