Auditors' Watchdog Role Requires Professional Skepticism 2017/02

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CPA stands for Certified Public Accountant. Although the company pays their fees, public company auditors work for the audit committee and the public in general, not management. This “public watchdog” role demands that auditors exercise professional skepticism throughout the audit process.

This role helps explain why auditors want concrete, third-party evidence to verify management’s assertions. Here’s a closer look at how professional skepticism factors into an audit.