Professional ethics and ACCA’s Code of Ethics and Conduct

Why is absolute assurance in auditing impossible?

Characteristics of professional skepticism

Professional skepticism is a state of mind where auditor question and collect sufficient and appropriate audit evidence before accepting client management assertion or explanation. Professional skepticism help auditor reduce audit risk and hence issue an opinion which will increase the credibility of financial statements.



The following are characteristics of professional skepticism

  • Questioning of management explanation:
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Revision question on code of ethics NBAA May 2019.

Dibal Associate, an audit and assurance firm, has been engaged as auditors for the M & B Bank Ltd, a public limited liability Company for some time now. M & B Bank has sixty branches throughout the country including branches in Dodoma, Mwanza, Tanga and Zanzibar. The Bank is one of the banks in the country which can boast of … Read the rest