Description

The public places high value assurance services provided by an external public accountant, as the CPA’s involvement directly enhances the degree of confidence intended users can place on the financial statements to make economic decisions. A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. Professional skepticism is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error.

Major Topics:

• Understand the importance of professional skepticism, especially when performing audit or other attest services.
• Recognize specific fraud responsibilities in a financial statement audit.
• Explain the varying levels of persuasiveness of evidence to support assurance conclusions or opinions.