The Center for Audit Quality has developed and released a teaching tool meant to help auditors arrive at sound judgments, despite pressures in the marketplace that make it difficult.
The Professional Judgment Resource is a 25-page guide that gives auditors an example of a decision-making process intended to steer auditors toward judgments that are more skeptical. It walks an auditor through five critical actions—identifying and defining the issue, gathering facts, performing the analysis, making a decision, and documenting the decisions and the rationale behind it. It also explains some common judgment tendencies that can potentially lead to bias and hinder skepticism, with examples and strategies to avoid them.
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