In an audit engagement, there are five threats that auditors may face that threaten their independence and objectivity. These threats can significantly limit the auditors’ freedom in forming an opinion and providing an unbiased judgment. Therefore, auditors need to identify these readily and safeguard against them. If they don’t do so, they face the risk […]

On any given audit assignment, auditors may face some threats. These threats come from several sources and can endanger auditors’ independence and objectivity. For auditors, it is crucial to identify these threats before beginning an engagement. In most cases, there are safeguards that auditors can use to ensure these threats do not realize. There are

During any audit assignment, auditors must ensure that they are independent of the client’s management. It is one of the critical requirements for continuing an audit objectively. However, there are some threats that auditors may face which may endanger their independence as well as objectivity. These threats include self-interest, self-review, familiarity, intimidation, and advocacy threats.