Professional Skepticism but not Suspicion
While exercising Professional skepticism is a necessary attribute of Auditors Quality, It's about maintaining a questioning attitude and not taking information at face value, which helps ensure the integrity and accuracy of financial statements. While skepticism involves questioning information within the bounds of professional standards and evidence, suspicion, on the other hand, implies a more subjective and potentially biased perspective.
When we talk about being suspicious about the questioning mind of the auditor, it's important to clarify that skepticism and suspicion are distinct concepts in the context of auditing.
Clients and the public should understand and appreciate the value of professional skepticism in the auditing process. Rather than viewing skepticism as a cause for suspicion, it should be seen as a safeguard against errors, misstatements, or even fraud in financial reporting. By embracing the auditor's questioning mind-set, clients can contribute to a more robust and trustworthy audit environment.
CA L.Muralidharan and CPA L.Mukundan
www.sreeramcoachingpoint.com Contact 63 83 22 82 02 / 98 84 43 97 69
