Surging Auditors: Professional Skeptic (SAU2)

Overview

Participants play the role of an auditor collecting information, making inquiries, and documenting findings around the audit of Home Décor and More. They develop professional skepticism skills as they analyze data obtained from an interview with Courtney the Controller, comparing, confirming, and corroborating it against information provided by the CFO. Some things aren’t matching up and the player uses Courtney’s responses and their own questioning mind to consider the next step. They need to be alert to conditions that may indicate possible misstatement due to fraud or error, and a critical assessment of the audit evidence to develop a sense of when things just don’t look right.

Major Topics:

• Demonstrating professional skepticism
• Assessing audit evidence
• Responding to contradictory evidence
• Assessing the sufficiency of audit evidence

Learning Objectives:

• Identify the importance of professional skepticism on engagements 
• Recall ways to demonstrate professional skepticism on engagements