Professional scepticism in Maltese auditing : an analysis

Abstract

Purpose: The main objective of this study is to analyse the level of professional scepticism of Maltese auditors and establish their perceptions with respect to the role of local audit firms in developing and promoting professional scepticism among their ranks. Of particular interest is the determination of specific aspects of the auditors which have an influence on their level of professional scepticism. Design: For the purpose of this study, a quantitative research methodology was deemed best and thus a questionnaire was developed. Hurtt (2010) Professional Scepticism Scale was included in the questionnaire as well. This thirty-question measuring instrument was used to measure the auditors' level of trait scepticism. Findings: The study's results indicate the overall level of trait scepticism of Maltese auditors and confirm that a relationship exists between experience and the level of professional scepticism. This research also provides evidence that undertaking training does significantly enhance the level of trait scepticism. Conclusions: This study arrives to the conclusion that both audit firms and the MIA should be doing more to develop and promote professional scepticism in their partners and staff. Value: This study is original, since it is the first attempt to measure and analyse the level of professional scepticism of Maltese auditors.