Requires an auditor to exercise due professional care in the planining and performance of an audit as well as in the preparation of an audit report.

Rule Overview

Jurisdiction: United States

Regulator: PCAOB

Topic: General Requirements

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The auditor must plan and perform their work with due professional care.

Obligation for due care in Cooley on Torts as cited in AS 1015.03:

Every man who offers his services to another and is employed assumes the duty to exercise in the employment such skill as he possesses with reasonable care and diligence. In all these employments where peculiar skill is requisite, if one offers his services, he is understood as holding himself out to the public as possessing the degree of skill commonly possessed by others in the same employment, and if his pretentions are unfounded, he commits a species of fraud upon every man who employs him in reliance on his public profession. But no man, whether skilled or unskilled, undertakes that the task he assumes shall be performed successfully, and without fault or error; he undertakes for good faith and integrity, but not for infallibility, and he is liable to his employer for negligence, bad faith, or dishonesty, but not for losses consequent upon pure errors of judgment.


AS 1015.07
Exercise professional skepticism - an attitude that includes a questioning mind and a critical assessment of audit evidence
AS 1015.08
Consider the competency and sufficiency of the evidence
AS 1015.09
No presumption of honesty or dishonesty on the part of the audited party
AS 1015.10
Obtain reasonable assurance
AS 1015.11
Obtain sufficient evidence to have a reasonable basis for forming an opinion
AS 1015.12
Fraud detection
AS 1015.13
Auditor not an insurer and an audit report does not constitute a guarantee
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