A job for professional skeptics – Auditor questions benefit companies — and their stakeholders

Description

Abstract: Public company executives often have long-standing and amicable relationships with their auditors. So it’s easy to forget that an auditor is a “public watchdog,” with ultimate allegiance to shareholders, creditors and the investing public. This article discusses the Public Company Accounting Oversight Board’s Staff Audit Practice Alert describing auditors’ obligation to exercise professional skepticism throughout the audit process.