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Scenario #2 - Professional Standards Vic is an associate at his accounting firm and recently submitted a letter of interest to join the audit team.
Scenario #2 - Professional Standards Vic is an associate at his accounting firm and recently submitted a letter of interest to join the audit team. The audit team lead, Von, has now invited Vic to interview for a position on this year's audit team. In the invitation letter, Von asked that Vic be prepared to discuss the responsibilities of an auditor and specifically mentioned professional skepticism and reasonable assurance. Vic is a bit nervous and wants to be prepared to fully discuss the responsibilities of an auditor and especially the topics Von mentioned. In your paper, help Vic summarize some information that he can use to practice for his upcoming interview. Include information to help him respond to the following potential interview questions: Define professional skepticism. Describe at least three things that an auditor should watch for in practicing professional skepticism. Define reasonable assurance. Explain why absolute assurance is not expected from an audit
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