The Importance of Auditor’s Professional Judgement in a Global Economy
AbstractIf auditors are to continue to play a vital role in adding credibility to the financial statements, it is essential to address the risks and pressures they face in the course of an audit. The auditor’s professional judgement is a focal point of those challenges. In an increasingly globalised economy, the quality and professionalism of a business is becoming more important than ever before. The audit profession is no exception. This paper examines auditor’s professional judgement and its relationship with professionalism in the audit process. It is discovered that professional judgement is a powerful tool for the auditor and that there is a contradiction between efficiency and effectiveness in the audit practice. This article argues that the key to bring a balance to this contradiction is professional judgement.
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): X (2010)
Issue (Month): 2 (October)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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audit; professional judgement; professionalism; efficiency; effectiveness.;
Find related papers by JEL classification:
- M10 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - General
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
- M42 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Auditing
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