ASPECTS OF PROFESSIONAL JUDGMENT OF AUDITOR IN MCA 700
I.M. Pozharitskaya
V.I. Vernadsky Crimean Federal University, Academician Vernadsky ave., 4, Simferopol, Republic of Crimea, 295007
Keywords: профессиональное суждение аудитора, стандарты аудита, аудиторское заключение, процедуры оценки риска, риск существенного искажения, professional judgment of auditor, standards of audit, audit conclusion, procedures of assessment of risk, risk of material misstatement
Abstract
The role of judgment of an auditor in the process of forming and presentation of a conclusion on financial accounting is defined on the basis of research of the International Standards on Auditing and the International conceptual basis of tasks regarding provision of assurance. The content of the professional judgment of an auditor in MCA 700 is revealed. Topical areas of application of the professional judgment of an auditor regarding fraud risk, procedures of assessment of risk of material misstatement are considered. Examples of documentation of the process of audit judgment with regard to single professional questions are given.
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