The behavioral economics field has developed valuable insights on when (and how) people make systematic errors in decision-making due to cognitive biases and fallacies. These insights can deepen the understanding of various factors affecting decision-making and are particularly important to audit work, which aims to...
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July 12, 2020January 27, 2021Feature Articles, Summer 2020
Professional Skepticism: A Model for Public Sector Auditing
Professional skepticism is a key element in high-quality audits, as it ensures auditor judgments are less clouded by personal biases. According to audit standards, professional skepticism involves having a questioning mind and critically assessing audit evidence. However...