The UK Auditing Practices Board (APB),
Professional Oversight Board and Audit Inspection Unit (AIU) have
issued a paper that emphasises the importance of scepticism to
Auditor scepticism: Raising the bar
draws on recent research into what actions are needed to ensure an
appropriate degree of scepticism is applied by auditors.
The APB said professional scepticism is a
crucial component of a high quality audit that encompasses every
aspect of the auditor’s judgement.
“We believe that the time is right for an
informed discussion about the right level of scepticism to be
applied by auditors and the conditions that foster appropriate
sceptical behaviour, APB chairman Richard Fleck said.
“The AIU [also] emphasised that close
attention must be applied to scepticism in its recent annual
report. We hope this paper will lead to a full discussion within
The APB has requested comments be submitted by
31 October 2010.