Professional skepticism is a key component of audit quality. There are various definitions of professional skepticism in the standards and the academic literature.

1. What would enhance the application of skepticism in the field? (4 marks)

2. What are effective ways to document the consideration of alternatives/evidence such that the audit documentation demonstrates skeptical thinking in the assessment of audit evidence? (4 marks)

Required:

Critically evaluate the above statements taking into account the questions. You must support your views/arguments with research findings and evidence from real world cases. Marks will be allocated as follows:

Introduction to your assignment

1 mark

Content, evidence of research and presentation (answering the questions 1 and 2)

8 marks

List of references

1 mark

Total

10 marks