The Value of Mindfulness to Audit Professional Skepticism: A Conceptual View

• In Event: Emotions and Moral Judgments, Genealogy of Fraud, Mindfulness and Professional Skepticism, Whistleblowing

Abstract

This study reviews and compares the concepts of mindfulness and audit professional skepticism in order to explicate the incremental value of mindfulness in improving auditor's skepticism and judgments. The audit profession has long recognized the important role of auditor’ attitude and mindset in the audit practice. Professional standards and academic research employ the concept of professional skepticism as a criterion guiding how an auditor should assess management’s assertions and audit evidence. However, the literature in professional skepticism leaves unanswered issues for discussion. The purpose of this study is to introduce the concept of mindfulness that may provide audit professionals an alternative method for improving professional skepticism. The current study suggests that professional skepticism covaries with mindfulness in a positive direction. That is, developing mindfulness is likely to facilitate and enhance professional skepticism. The study further proposes several practical implications and provides directions for future research.

Author

• Yu-Tzu Chang, University of Kentucky