This comprehensive course delves into the critical role of professional skepticism in the audit of financial statements. Developed in response to the increased emphasis by regulatory bodies, such as the International Auditing and Assurance Standards Board (IAASB) and the UK Financial Reporting Council (FRC), this course equips auditors with the necessary skills and mindset to approach audits with heightened skepticism. You will learn to cultivate a questioning mindset, recognize indicators of potential misstatement due to error or fraud, and critically assess audit evidence. Through practical examples and case studies, you will discover how to apply professional skepticism at different stages of the audit process, including engagement acceptance, risk assessment, evidence gathering, and opinion formation. Specific applications in fraud detection, accounting estimates, going concern assessments, related party transactions, and regulatory compliance will also be explored.

Join this course and become proficient in professional skepticism, elevating the quality of your audits and instilling public confidence in your work.

Course Key Concepts: Skepticism, Auditing, Mindset, Quality, Fraud, Estimates, Going Concern, Compliance.