Question: Is it possible that an auditor can make a professional judgment error and still be behaving with due professional care? Explain.

Is it possible that an auditor can make a professional judgment error and still be behaving with due professional care? Explain.

Step by Step Solution

★★★★★

3.31 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Yes If an auditor is following the appropriate auditing guidance and is exercising professional ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

395-B-A-A-A-N (2861).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

Q:

It is noted that an auditor can provide (1) Positive assurance, (2) Negative assurance, or (3) No assurance. Briefly describe these three levels of service and when they might be used.

Q:

Is it possible that even though men make more than women in a particular industry, there could be gender discrimination against men in that industry? If no, explain why not. If yes, explain why and...

Q:

Is it possible that with the buddy system of memory management it ever occurs that two adjacent blocks of free memory of the same size coexist without being merged into one block? If so, explain how....

Q:

Please answer the following questions in detail... QUESTION 1 Audit procedures Businesses often have litigation against them that the auditor has to identify and adequately disclose. List the...

Q:

AUDITING - PHILIPPINES 1. Statement 1: Planning - the auditor should make inquiries of management about the possibility of misstatements due to fraud and error. Statement 2: Planning - the auditor...

Q:

BREACH REPORTING BE AWARE OF YOUR ADDITIONAL BREACH REPORTING OBLIGATIONS Overview From 1 July 2024, additional breach reporting obligations apply to all registered tax practitioners under the Tax...

Q:

Hi, I need someone to do summary for the article I upload AUDITING: A JOURNAL OF PRACTICE & THEORY Vol. 28, No. 2 November 2009 pp. 1-34 American Accounting Association DOI: 10.2308 / aud.2009.28.2.1...

Q:

I need help with the following review questions please! Its related to ethics and accounting, should be straight forward please help. I need this by tomorrow. Please let me know if you need any...

Q:

3-2 Rite Aid Inventory Surplus Fraud Occupational Fraud comes in many shapes and sizes. The fraud at Rite Aid is one such case. On February 10 th , 2015, the US Attorney?s Office for the Middle...

Q:

ReadPrinciplesofEthicsforInternalAuditorsMadeManageable. DOCUMENT IS ATTACHED After reviewing the article, write three to four paragraphs in your own words summarizing the general theories and...

Q:

Suppose the adult American population is equally split in their belief that the amount of tax (federal, state, property, sales, and so on) they pay is too high. (a) How many people would we expect to...

Q:

Question 4 Solve the ODE of y"(t) - 3y'(t)- 4y = 0 with the initial conditions of y(0) = 2 and y'(0) = 1. (20 marks)

Q:

Post - merger control and the negotiated price paid by the acquirer are 2 of the most important issues in agreeing on the terms of a merger.

Q:

Analysis generally aims at discovering patterns and structures of meaning-making. The main focus is on how people constitute social facts through discursive practices.

Q:

The Securities and Exchange Commission (SEC) found that Centerpulse, Ltd., a publicly traded company based in Switzerland, fraudulently misstated its 2002 third and fourth quarter financial...

Q:

Identify three tests of controls or substantive tests of transactions in the payroll and personnel cycle that an auditor may perform using audit software.

Q:

Alyssa Ghose is auditing payroll accruals for a manufacturing company. The client has accrued payroll taxes, accrued vacation pay, and accrued bonuses for salespersons as of the end of the fiscal...

Q:

i need help with this problem thanks!! Present value concept Answer each of the following questions a. How much money would you have to invest today to accumulate $5,000 after 7 years of the rate of...

Q:

2 1 . 1 4 . Future prices of a stock are modeled with the following 3 - period binomial tree: Consider a European call option on the stock expiring in one year. The numbers on the ending nodes are...

Q:

The correlation between the returns of stocks A and B is 0.44 . The covariance between the returns of stocks A and B is 0.0982 . The standard deviation of the return of stock A is 0.34 . What is the...