Question

What are The exercise of due professional care requires that an auditor?

Answer 1

Auditors must exhibit due professional care in their work, which involves following specific practices to ensure accuracy and reliability of the audit.

Step-by-step explanation:

The exercise of due professional care in auditing requires that an auditor follows certain practices to ensure accuracy and reliability in their work. Some of these include:

1. Obtaining sufficient understanding of the entity and its operations to plan and perform the audit effectively.
2. Applying the necessary skills and knowledge required in conducting the audit.
3. Performing the audit with an objective and independent mindset.
4. Exercising professional skepticism and critical judgment throughout the audit.
5. Documenting the audit procedures performed and the evidence obtained.
6. Communicating any significant findings or concerns to appropriate parties.