Question 1
The starting point to effective professional judgment begins with
◦ gathering the facts.
◦ identifying alternatives.
◦ identifying relevant literature.
◦ identifying and defining the issue.
Question 2
When performing the review and completing the documentation and rationale for the conclusion step of the professional judgment process, auditors will
◦ consider the accounting and auditing standards relevant to the issues.
◦ articulate in written form the rationale of their judgment.
◦ identify the issue.
◦ gather the facts.