During its June 2015 meeting, the IAASB hosted a panel discussion on the topic of professional skepticism.
IAASB member Annette Köhler, who chairs the Professional Skepticism Working Group, introduced the topic. The panel was comprised of:
- Jeremy Justin, Canadian Public Accountability Board’s Representative on the Forum of Independent Audit Regulators Standards Coordination Working Group;
- Helen Munter, Division of Registration and Inspections, US Public Company Accounting Oversight Board;
- Doug Prawitt, Glen Ardis Professor of Accountancy, Brigham Young University; and
- Cindy Fornelli, Executive Director, Center for Audit Quality.
Prof. Köhler and each panelist gave a brief presentation and offered opening remarks, which were followed by a discussion period.
The purpose of the discussion was to:
- Provide IAASB members with a further understanding of the issues related to auditors’ application of professional skepticism in the context of a financial statement audit and raise questions with experts in this area; and
- Consider how best to address concerns that have been raised about auditors' application of professional skepticism in audits of financial statements and planned next steps.