CTHRepealedLegislation
ASA 240 - The Auditor’s Responsibilities Relating to Fraud in an Audit of a Financial Report - October 2009
Professional ScepticismProfessional Scepticism
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Professional Scepticism
- In accordance with ASA 200[5], the auditor shall maintain professional scepticism throughout the audit, recognising the possibility that a material misstatement due to fraud could exist, notwithstanding the auditor’s past experience of the honesty and integrity of the entity’s management and those charged with governance. (Ref: Para. A8‑A9)
- Unless the auditor has reason to believe the contrary, the auditor may accept records and documents as genuine. If conditions identified during the audit cause the auditor to believe that a document may not be authentic or that terms in a document have been modified but not disclosed to the auditor, the auditor shall investigate further. (Ref: Para. A10)
- Where responses to enquiries of management or those charged with governance are inconsistent, the auditor shall investigate the inconsistencies.