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Professional skepticism is fundamental to a high-quality audit. It is not a single step; it is a mindset maintained throughout the audit.
In this short video, the IAASB highlights the importance of pausing to critically assess audit evidence, challenge assumptions, and remain alert to conditions that may indicate possible material misstatement due to fraud or error.
Through a series of reflective prompts, The Skeptic’s Pause encourages auditors to consider whether they have obtained sufficiently persuasive evidence, addressed higher assessed risks appropriately, and remained mindful of potential bias.
Watch the video here