"Using Professional Skepticism to Increase the Objectivity of Materiality Estimations in Auditing "A Field Study

Abstract

This study aims to explore the conceptual framework of professional skepticism by indicating the various definitions of professional skepticism in the academic literature and in the international standards, by which definitions range from presumptive doubt to neutrality to a continuum that changes based on specific audit factors, also the researcher tried to show the scales and the models that assist auditors to exercise professional skepticism and how the scale applied in the Malaysian environment by indicating the main limitations that appeared in this environment. Then the researcher tried to state the main factors that effect on the level of professional skepticism exercised by the auditor. The study discussed the different definitions of materiality because the word materiality differs in meaning, size and implication from users to users, from time to time.