SA 200: Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing


This Standard establishes the independent auditor’s overall responsibilities when conducting an audit of financial statements in accordance with SAs

  • Ethical Requirements Relating to an Audit of Financial Statements: The auditor should apply the following fundamental principles of professional ethics relevant when conducting an audit of financial statements:
    • Integrity
    • Objectivity
    • Professional competence and due care
    • Confidentiality
    • Professional behaviour.

  • Professional Skepticism: Professional skepticism includes being alert to, for example:
    • Audit evidence that contradicts other audit evidence obtained
    • Information that brings into question the reliability of documents and responses to inquiries to be used as audit evidence
    • Conditions that may indicate possible fraud
    • Circumstances that suggest the need for audit procedures in addition to those required by the SAs.

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