Considerations Regarding the Exercise of Professional Judgment in International Standards on Auditing
Author:
Associate Prof. Irimie Emil POPA, Ph.D.; Univ. Prof. Ion MIHĂILESCU, Ph.D.; Georgeta Ancuţa ŞPAN, Ph. D. Student; Univ. Lecturer Niculina STĂNESCU, Ph. D.
JEL:
M 42
DOI:
Keywords:
professional judgment, reasonable assurance, International Standards on Auditing, decision-making process, audit mission
Abstract:
The quality of an audit mission is ensured by an appropriate application of the international standards on auditing and by exercising the professional judgment of auditors. This paper aimed to analyze the audit mission through the main activities mentioned in the professional standards, the central point, however, being represented by those decisions which require the exercise of the auditors` judgment. The conclusions reveal the complexity of the decision making process related to an audit mission and the importance of professional judgment in obtaining the most appropriate audit opinion.\r\n