1. In the Basis of Opinion paragraph of an unmodified independent auditors report, the auditor states that he conducted his audit in accordance with International Standards of Auditing (ISAs). As part of an audit in accordance with ISAs, he exercises professional judgement and maintains professional skepticism.

Required

1. Discuss the meaning and implications of conducting audit in accordance with International Standards on Auditing (ISAs)
2. Critically examine the concepts of professional skepticism and professional judgements using practical examples to explain;
3. Analyze the significance of the Basis of Opinion paragraph in an Independent Auditors Report