Which concept is referred to as the cornerstone of auditing?
A)Due professional care.
B)Independence.
C)Technical training.
D)None of the above.

Question

Quizplus · Accepted Answer

Independence is considered the cornerstone of auditing as it helps ensure that the auditor remains unbiased and objective when evaluating a company's financial statements. Without independence, the auditor may be influenced by personal or financial relationships with the company or its management, leading to an ineffective audit. While due professional care and technical training are important, they are secondary to independence in terms of fundamental principles of auditing.

Which Concept Is Referred to as the Cornerstone of Auditing