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ARTICLE · 18 APRIL 2016

Enron, Professional Skepticism And Accounting Standards For Private Enterprises

Crowe
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Financial statements should be read with a critical eye, and readers should question not just the information included in the statements, but also the accounting standards used to prepare the statements.

CanadaAccounting and Audit
Candace Surette
Candace Surette
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Financial statements should be read with a critical eye, and readers should question not just the information included in the statements, but also the accounting standards used to prepare the statements. Informed decisions include assessing the quality of the information provided not just the information itself.

Professional Skepticism

Being responsible to ensure quality, I work hard to maintain my professional skepticism. According to Auditing Standards professional skepticism "is an attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of audit evidence". In simple terms: asking the hard questions.

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