Professional Scepticism

by Lisa Weaver

This course provides guidance on developing an attitude of professional scepticism with examples demonstrating the significance of judgement in financial accounting. Discover why being sceptical is described by the IAASB as the personal and professional responsibility of every accountant.

price £75+vat
cpd hours 4 CPD hours
access 120 days' access

This course will enable you to

  • Explain how professional scepticism underpins high quality audit practice and ethical behaviour
  • Understand how professional scepticism and judgement impact accountants and auditors
  • Evaluate the different types of irregularities that an accountant might have to deal with
  • Use judgement to identify fraud, money laundering, and financial irregularity
  • Understand how to use the ISA regulatory requirements for quality control, compliance, and bias management

About the course

The IAASB describe adopting and applying a sceptical mindset as the personal and professional responsibility of every professional accountant. Auditors are required to plan and perform an audit with professional scepticism, recognising that circumstances may exist that cause the financial statements to be materially misstated. But how can auditors be confident when challenging management and be sure that they can justify their assumptions and opinions.

This course provides guidance on developing an attitude of professional scepticism and includes numerous examples which demonstrate the significance of judgement in financial accounting. You will develop a sceptical mindset and identify the common areas of accounting and financial reporting that will require you to use it. You'll also discover the important role that being sceptical can have on detecting and responding to fraud and other financial irregularities.

Look inside

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Contents

  • Professional scepticism and judgement
    • Understanding professional scepticism and judgement
    • Professional scepticism and judgement in financial reporting
    • Professional scepticism vs professional judgement
    • Data analytics and professional scepticism
    • Regulatory and professional bodies and professional scepticism
    • A state of mind
    • What are the regulatory requirements?
  • Developing and demonstrating a sceptical mindset
    • How can professional scepticism be developed?
    • Professional scepticism and audit quality
    • Regulators and applying professional scepticism
    • Professional scepticism in an audit
    • Documenting professional scepticism
    • Auditor independence and professional scepticism
  • Professional scepticism and making accounting decisions
    • Accounting for non-financial assets and liabilities
    • Revaluation of properties
    • Financial instruments
    • Tips for applying professional judgement
    • Impairment of assets
    • Assessment of going concern
    • Professional judgement and going concern
  • Applying professional scepticism in response to financial irregularities
    • Corruption fraud and misappropriation of assets
    • Understanding money laundering
    • Scepticism, fraud, and financial irregularity
    • Identifying and responding to suspicious activity
    • Fraudulent financial reporting
    • Finding fraud as an auditor

Author

Lisa Weaver

Lisa is a Professor at Warwick Business School, delivering on a range of programmes including MBA. She is a Senior Fellow of the Higher Education Academy in the UK.

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Access to this course
Total CPD unitshourshours4 unitshourshours21 units20 hours21 hours800+ unitshourshours800+ unitshourshours
Access period120 days120 days12 months12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your teamís needs
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Recommended

Why not upgrade?

Find the best way to complete your CPD

Licence

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Why not upgrade?

Find the best way to complete your CPD

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Licence

Recommended

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

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