This site uses cookies for analytics, personalized content and ads. By continuing to browse this site, you agree to this use of cookies in accordance with our Cookie Policy.


Professional Judgment Resource

Wednesday, August 27, 2014

Download PDF

The Professional Judgment Resource is designed to provide auditors with an example of a decision-making process to facilitate important auditing and accounting judgments in a professionally skeptical manner. It outlines an example of a decision-making process grounded in five essential actions that include identifying and defining the issue, and reviewing and completing the documentation and rationale for the conclusion. Additionally, the Resource identifies several of the more common judgment tendencies and traps that can potentially lead to bias and weaken professional skepticism, as well as includes illustrative examples of these tendencies, and strategies to avoid them.