The PSAs states that it is not mandatory that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit.Select one:TrueFalse
Question
The PSAs states that it is not mandatory that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit.Select one:TrueFalse
Solution
False. According to the PSAs (Professional Standards on Auditing), it is mandatory for the auditor to exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit.
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Even in exceptional circumstances, the auditor should not depart from a relevant requirement in a PSA.Select one:TrueFalse
As the basis for the auditor’s opinion, PSAs require the auditor to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error.Select one:TrueFalse
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