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 RECORDED WEBINAR: Professional Scepticism and the Auditor

Duration:  2 hours

Professional scepticism is an important element of an audit, review or assurance engagement, yet it is a concept which is poorly understood in practice.  This presentation will provide an explanation of the rules, together with some useful ideas on how to be sceptical when conducting an engagement. 

  • Professional scepticism defined:
    • what the auditing standards say on its meaning
    • an attitude and a mindset?
    • scepticism and risk assessment – how the two relate
    • in what engagements is professional scepticism applied?
  • Professional scepticism in practice:
    • conflicts in available audit evidence
    • critically assessing audit evidence
    • identifying deficiencies in audit evidence
    • avoiding over reliance and trust on information sources
    • scepticism and the auditor’s responsibilities in relation to fraud – ASA 240
  • Scepticism applied to steps in the engagement process:
    • when accepting an engagement
    • when establishing initial assessments and planned audit procedures
    • when conducting procedures
    • when reviewing accounting estimates, including assumptions and methodology
    • when reviewing “going concern”
  • How to evidence professional scepticism at each stage of the engagement 
This webinar is suitable for: Accountants and auditors
PRESENTED BY: Keith Reilly, Macquarie University, Sydney
Keith Reilly is a financial reporting consultant and covers accounting, auditing and ethical standards, as well as governance and regulatory issues and has 40 years’ experience in the financial reporting field.
He was previously the technical director and advisor for the Institute of Chartered Accountants in Australia, and has also worked with the Australian Securities Regulator (ASIC), been an advisor to a major institutional Australian stock broking firm, and a former Research Director and Auditor for two Australian Big 4 audit firms. Keith consults, writes and lectures extensively on financial reporting issues. He is a former member of the Australian Accounting Standards Board’s Urgent Issues Group and a member of the Accounting Professional and Ethical Standards Board’s Code of Ethics Taskforce.
He is the Section Editor of Lexis-Nexis Corporations Law publications, a member of the Australian Institute of Company Directors Financial Reporting Committee, and various Institute of Chartered Accountants, CPA Australia, and Institute of Public Accountants Committees. Keith is a member of Macquarie University’s Department of Accounting and Corporate Governance’s Advisory Board, a part time lecturer in the Master of Accounting and Corporate Governance program, and in 2013/14 is an Industry Fellow (International Governance and Reporting).
© 2014 Television Education Network Pty Ltd.  All rights reserved. The program for this webinar is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.

Tuesday 18th March 2014 

© Television Education Network Pty Ltd 2022

Product Code: WBHMAR14
 Price:  $220.00 (Inclusive of GST)
© 2022 Television Education Network Pty Ltd. All rights reserved. The program for this webinar is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.