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MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY -Prepared by NGUYEN VINH KHUONG FACTORS AFFECTING PROFESSIONAL SKEPTICISM TOWARD AUDIT QUALITY: THE CASE OF VIETNAM MAJOR: ACCOUNTING CODE: 934.03.01 SUMMARY OF DOCTORAL THESIS Ho Chi Minh City – 2020 Thesis is completed at: University of Economics Ho Chi Minh City Academic Instructors: Assoc Prof Mai Thi Hoang Minh PhD Nguyen Dinh Hung Reviewer 1: Reviewer 2: Reviewer 3: The dissertation will be presented to the Dissertation Board at university level At … hours … day… Month …year… The thesis can be found at the Library: INTRODUCTION The necessity of the research Professional skepticism is an important concept in audit and assurance services (Hurtt et al., 2013; Quadacker et al., 2014) Professional skepticism may cause the auditor to have conflict with clients or to perform additional audit procedures (Shaub and Lawrence, 1996) The concept of professional skepticism in the field of auditing remains controversial (Hurtt et al., 2013), with many concepts proposed by academic researchers (Nelson, 2009; Glover and Prawatt, 2014) However, one common point among the controversial concepts is that the skepticism in the profession is the attitude of skepticism This is in accordance with the definition given in Vietnamese and international auditing standards The author recognizes the urgency of the topic in both practical and theoretical aspects From a practical perspective, the PCAOB report (2008, 2012, 2014) concludes that recent audits, especially during the economic crisis period of 2008-2012, expressed unsuitable professional skepticism for 40% of the cause of the above results Therefore, IAASB (2012) requires the auditor to demonstrate professional skepticism more clearly throughout the audit through audit records Recently, the International Auditing Standards Board (IAASB, 2016) has issued a written call for comment with the title “Enhancing audit quality in the public interest: a focus on professional skepticism, quality control, and group audits” In particular, professional skepticism is considered a core factor in order to increase the quality of auditing and maintain professional position after the lawsuits Therefore, professional skepticism is an essential attitude for all audits from the perspective of professional associations in the world and the standards-issuing bodies From a theoretical perspective, research on auditor’s professional skepticism in the field of auditing is of primary concern when financial statements are at risk of fraud (Bell et al., 2005) Professional skepticism has a potential influence to the financial statements in many respects and further causes problems in dealing with the risk of frauds for auditors during the audit Previous literature reviews suggest that auditors who trust the database will be less likely to have career doubts and less likely to uncover financial statements that are fraudulent (Harding et al., 2016) According to the research of Chen et al (2009), Knechel et al (2013), professional skepticism increases audit quality Pofessional skepticism affects the decision-making of the auditor assistants andauditors when performing an audit, resulting in the professional skepticism that may impact audit quality Research on the nature and factors affecting professional skepticism in Vietnam has almost not been conducted in Vietnam In order to meet the requirements of awareness of professional skepticism, on the basis of research gaps in previous studies, the requirements of the process of world economic integration and the situation of professional skepticism, audit quality in Vietnamese audit firms, the author chooses the topic research: “Factors affecting professional skepticism toward audit quality: The case of Vietnam”, which has the urgency in both theoretical and practical aspects to settle policy recommendations to support managers of auditing firms in Vietnam, to improve audit quality in Vietnam Objectives of the research - The overall objective of the thesis is to explore the factors that affect professional skepticism and measure the impact of factors on professional skepticism to improve the audit quality in the context of Vietnam Research questions To achieve the research objectives, research questions are posed as: Q1: What are the factors that affect the auditor’s professional skepticism in Vietnamese auditing firms? Q2: What are the impacts of the factors on auditor’s professional skepticism in Vietnamese auditing firms? Q3: What are the impacts on the auditing quality in in vietnamese auditing firms? Objects of the research The objects of the study in this thesis are the factors that affect professional skepticism towards audit quality in the context of Vietnamese society Scope of the research Research directed in auditing firms operating in the external audit field in Vietnam and excluding Big Four (KPMG, EY, PwC, Deloitte) The scope of the investigation did not consider the state audit and internal audit Research Methodology Research Methodology is used as the exploratory mixed method The review of previous studies summarizes background theory to explain the relationship among research concepts From there, the author determines the theoretical gaps to be carried out in this study Next, the study collects the survey data to analyse the appropriateness with the theoretical model built The scientific and practical significance of the dissertation - Scientific significance On the theoretical basis, the thesis has modified the scale based on the scales inherited from the studies on this topic, for the components of the theoretical model and testing the measurement model appropriate to Vietnam context The dissertation results will be the basis for further studies that can apply the scale to serve for scientific research works, especially, future research on the topic of the behavior of auditors - Practical significance Tests the relationship of the study variables in the theoretical model concluding the prerequisite factors affecting professional skepticism, contributing to maintaining professional skepticism to increase audit quality The Vietnamese auditing firm has taken appropriate measures from the recruitment policies, assessment of the work of the auditors and the oversight of the opposite effects, in order to have a timely solution to maintain professional skepticism throughout the audit work Structure of the thesis Apart from the Introduction, the thesis is divided into chapters with the following main contents: Chapter 1: Literature review Chapter 2: Theoretical framework and research model Chapter 3: Research methodology Chapter 4: Research findings Chapter 5: Conclusion and implications CHAPTER LITERATURE REVIEW 1.1 Overview of studies related to the thesis Based on the research topic of published publications surveyed, the author categorizes previous studies around the topic of professional skepticism into three main research strands as follows: Firstly, the research that focuses on the purpose of clarifying the concept of professional skepticism based on psychological theories The concept of professional skepticism can be viewed from a research or practical perspective However, both of these angles are less volatile, so the research on this topic focuses on analyzing the constituents of professional skepticism and comparing these components from different perspectives to build a scale of variables The general research published in the leading journal in the field of of auditing regarding the structure of professional skepticism include: Robinson et al (2018); Quadackers et al (2014); Hurtt (2010) Second, studies that focus on identifying the factors that affect professional skepticism This is the most interesting research topic because professional skepticism is considered as a factor affecting the quality of work of auditors, auditing quality (Hurtt et al., 2013; Nelson, 2009) The studies on this topic consider the factors that affect professional skepticism according to the grouping of factors Two systematic models of research on this issue in the leading auditing journal: Auditing journal: A Journal of Practice & Theory including Hurtt et al (2013); Nelson (2009) Thirdly, the studies that focus on considering the impact of professional skepticism on audit quality or other concepts in the audit, such as the auditor’s behavior This is an separately considered subject on the professional skepticism affecting auditing quality Some studies of this research direction include: Bowlin et al (2015); Chen et al (2009) In the scope of the research mentioned, the author focuses on presenting an overview of the factors that affect the professional skepticism, and the impact of professional skepticism on audit quality on previous studies 1.2 Views about professional skepticism Professional skepticism is a concept that is inconsistent and very challenging to measure, depending on the point of view, there are different concepts about professional skepticism 1.3 Factors affecting professional skepticism The topics are quite sporadic, and not systematic (Nelson, 2009) Therefore, the author inherits two studies synthesizing the studies on the factors affecting the professional skepticism of auditors Firstly, it is the model of Nelson (2009) which groups factors according to characteristics, knowledge and motivation The next model of Hurtt et al (2013) was based on Nelson (2009) and expanded to include four groups of factors: auditor’s characteristics, financial statements, customer characteristics, and external effects Therefore, the author will briefly present the two studies of Nelson (2009) and Hurtt et al (2013) Next, the author, inherits and reclassifies the factors that affect professional skepticism according to the subjects that directly affect the auditor’s professional skepticism, including the auditor's characteristics, auditing firms’ characteristics, clients’ characteristics and external factors 1.3.1 International studies 1.3.1.1 Auditor factors This research strand explores the role of auditors, and code of ethics that affect the level of professional skepticism 1.3.1.2 Auditing firm’s factors The articles on the influence of the audit firm factor on professional skepticism are quite few The predominant factor is the influence from the superior to the degree of professional skepticism 1.3.1.3 Client’s factors Client is subject to direct impact on auditors during the audit process The previous study focused on the influence of the auditor-client relationship (client pressure, client sympathy) on the professional skepticism 1.3.1.4 External factors Quality management and quality control requirements are a significant mechanism for auditing quality control and increase public trust in the value and reliability of audit services However, very few empirical studies directly examine the links between quality control and professional skepticism 1.3.2 Related researches from Vietnam Research in Vietnam has not yet investigated the conceptual nature and comprehensively investigated this issue However, a number of representative articles highlight the importance of maintaining professional skepticism throughout the audit process 1.4 The influence of professional skepticism on auditing quality 1.4.1 International researches The impact of professional skepticism on audit quality is of interest to professional associations around the world and researchers Audit standards and academic research both accept that professional skepticism positively impacts auditing quality However, there are currently few empirical studies on this issue in the world 1.4.2 Related researches from Vietnam In Vietnam, the dissertations of Phan Van Dung (2015) and Bui Thi Thuy (2013) gathered factors affecting audit quality in Vietnam context In particular, the methodological approach of the factors affect the auditing quality Professional skepticism is considered a component in the methodology of auditors Therefore, there has been no research on the impact of professional skepticism on the audit quality separately 1.5 Results obtained from previous studies and research gaps 1.5.1 Some remarks from the prior studies 1.5.1.1 The factors affecting professional skepticism In general, the results of foreign authors on the factors that affect Professional skepticism include auditor factors, auditing firm factors, client factors, external factors In Vietnam, domestic publications have not focused on the theme of professional skepticism, and very little research has been done on professional skepticism However, the studies agree with the importance of professional skepticism in the detection of fraud, leading to an increase in audit quality Only a publication is out on this issue, but not comprehensive and fails to study the nature of professional skepticism, and discussesonly a first-order scale and incomplete impact factors 1.5.1.2 The impact of professional skepticism on audit quality Both career associations and researchers conclude that professional skepticism has a positive influence on audit quality (Knechel et al., 2013) Framework of audit quality recognizes that auditing quality consists of three parts, including input, process, output (IASSB, 2015) 1.5.2 Research gaps Firstly, there have been no comprehensive studies on factors affecting professional skepticism in the context of auditing activities in Vietnam Secondly, there have not been quantitative studies to measure the impact level of professional skepticism factors based on qualitative research of factors affecting professional skepticism in the context of Vietnam Third, there is no study on the direct impact of professional skepticism on audit quality in the context of Vietnam CONCLUSION OF CHAPTER CHAPTER THEORETIAL FRAMEWORK AND RESEARCH MODEL 2.1 Overview of concepts 2.1.1 Professional skepticism The International Standard of Auditing No 200 and Vietnam Audit Standard No 200 address the definition of Professional skepticism – An attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of audit evidence From a neutral perspective, Hurtt (2010) proposes the definition:professional skepticism is a multi-dimensional individual characteristic As an individual characteristic, professional skepticism can be both a trait (a relatively stable enduring aspect of an individual) and also a state (a temporary condition aroused by situational variables) 2.1.2 Audit quality Audit quality is an audit that provides a high level of assurance in which the auditor has sufficient appropriate and sufficient financial statements to prove that the financial statements are presented true and fair 2.1.3 Factors affecting professional skepticism auditor competence 2.1.3.1 Auditor competence Auditor competence includes requirements on knowledge, skills, experience and specialization to help auditors carry out the judging sequence as a basis for forming audit opinions 2.1.3.2 Code of ethics Ethics can be described as a system of principles that govern human behavior Ethics has structured values to provide guidance when considered right or wrong behavior Professional identity relates to the power of personal identification with or being involved in a career Auditors have a professional commitment that is positively associated with a code of conduct attitude, including compliance with good practices, standards and ethics 2.1.3.3 Personal motivation The motivation is defined as the psychological processes that create the beginning, orientation, intensity and perseverance of behaviour (Klein, 1989) Motivation improves when employees operate with definite intentions (Locke, 1997) 2.1.3.4 Influence from superiors The study of the influence of superiors is done through the guidance of the auditing firm, the influence of the superior and partner in the decision making process Peecher (1996) was one of the first to examine whether a third party's priority influences the auditor’s decision making 2.1.3.5 Time pressure Time pressure is reflected the stress factor that individuals undergo every day One of the regular things that auditors find challenging is time pressure 2.1.3.6 Auditor-client relationship The importance of client is analysed from many aspects, including cost, reputation-related risks associated with client size and client vision Higher client importance can lead to the development of auditor intentions to retain an existing client 2.1.3.7 Legal responsibility and quality control Regulators influence auditor thinking by emphasizing aspects of the audit that need improvement, consideration, and appropriate judgment, or completion of additional audit procedures During the quality control, the regulator provides feedback to the auditor and auditing firm Reports from regulatory agencies will help change behaviour by conveying information about expectations (Ilgen et al., 1979) 2.2 Overview of background theories 2.2.1 Theory of planned behavior 2.2.2 Theory of social identity 2.2.3 Theory of organizational support 2.2.4 Theory of moral reasoning 2.2.5 Role theory 2.3 Original research model Figure 2.1: Theoretical model of the factors affecting professional skepticism toward auditing quality CONCLUSION OF CHAPTER CHAPTER 3: RESEARCH METHODOLOGY 3.1 Appropriateness of the research method This study applied the exploratory approach and confirmed design to answer research questions The mixed-method adopts qualitative and quantitative methods with data collection in Vietnam 3.2 Research process 10 The author proceeds to apply appropriate research methods to explore and test the hypotheses The process is carried out include the followings: Study theories tobuild appropriate scales and explore new factors qualitative research method Preliminary quantitative research - quantitative research method Main quantitative research - quantitative research method 3.3 Research method 3.3.1 Qualitative research method Objective A face to face discussion with three expert groups in the audit industry was conducted to (i) explore new factors that affect the professional skepticism; (ii) adjusting the items used to measure the research variables (all concepts are independent variables, dependent variables) Objects and organizational interview - Objects: Directors at domestic auditing firms in Vietnam, professional associations, and scientists in the field of auditing - Location: Office of the expert 3.3.2 Preliminary quantitative research Objects are practising auditors because they are the persons directly working in the auditing field and involved in the application of the professional skepticism A preliminary quantitative research method is a preliminary survey of research objects to check the reliability of the scale designed and adjusted accordingly in Vietnam The sample size for this step is n = 100 and was selected by the convenient sampling method for auditing firms based in Hanoi and Ho Chi Minh City 3.3.3 Main quantitative research The purpose of the main quantitative method is to test the path model of the factors that affect professional skepticism towards audit quality The model has been calibrated to match specific social circumstances in terms of Auditing field in Vietnam Objects are important factors, affecting the quality of research Therefore, the thesis applies the evaluation of the measurement model to test the representation hypotheses after performing preliminary assessment using Cronbach's alpha coefficients and exploratory factor analysis 11 3.4 Measure the original concept Auditor competence Code of ethics Influence from superior Auditor-client relationship Legal responsibility and quality control Professional skepticism Audit quality CONCLUSION OF CHAPTER CHAPTER RESEARCH FINDINGS 4.1 Background of audit activities in Vietnam In general, the audit firm has paid attention to improving professional qualifications and experience for auditing staff, many auditors reach the international community However, many auditors have not yet met the requirements with the newly updated policy mechanism With the special features managed by state agencies, the coordination of the Ministry of Finance, VACPA and auditing firms will help develop auditors and meet industry requirements 4.2 Qualitative research results 4.2.1 The suitability of the original scale Qualitative research was conducted through interviews with experts The author interviews the experts by meeting them in person Experts include the director of audit firms, regulator and professional associations, lecturers and scientists who are knowledgeable about the field of auditing With the expert group of directors of audit firms, the author collects factors affecting professional skepticism and scale adjustments With the second group of experts being regulator agencies and professional associations The author collected factors affecting professional skepticism, adjusting the scale and confirming the relationship between professional skepticism has a positive impact on the audit quality However, no new factors were detected compared to the group of Audit Firms 12 With the third group of experts being lecturers and scientists from universities who have deep knowledge in the field of auditing The author has collected factors affecting professional skepticism and scale adjustments However, no new factors were detected 4.2.2 Exploraty factor analysis By discussing with experts, the author explores two more factors including the personal motivation of the auditing group and time pressure of the auditing firm Therefore, the author presents the concepts, the items measure the two concepts Both personal motivation and time pressure scales are result and first-order scale 4.2.3 Adjusted research model Through qualitative results, the author established the main research model as follows: Figure 4.1: Main research model 4.3 Quantitative research results with a preliminary survey Through the preliminary survey, the main study will test the theoretical research model of concepts with 41 items Table 4.1: Scale used in official research Concepts Sign Number of items 13 After preliminary research Auditor competence Code of ethics Personal motivation Influence from superior Time pressure Auditor-client relationship Legal responsibility and quality control Professional skepticism Audit quality NL2 – NL5 DD1 – DD5 DL1 – DL4 CT1 – CT3 AL1 – AL3 KH1 – KH4 KS1 – KS4 HN11 – HN34 CL1 – CL4 Eliminate the NL1 item Eliminate the DD2 Unchanged Unchanged Unchanged Unchanged Eliminate the KS2 item 12 Unchanged Unchanged 4.4 Quantitative research results from the main survey After the preliminary quantitative researchhas been conducted, the results of the adjusted scales are obtained The main questionnaire is adopted for the main research Research with the analytical unit is auditor, currently working in auditing firms in Vietnam 4.4.1 Representativeness of research sample According to Hair et al (2016), when using PLS_SEM, the sample size needs to be 10 times the maximum number of items of the formative scale or 10 times the number of paths in the structural model Because the model includes the reflective scales so the minimum sample size is 10 times the number of paths There are paths, so the minimum sample size is 80 Therefore, the number of samples in the main quantitative method is 206, which is sufficiently representative according to the above analysis 4.4.2 Descriptive statistics 14 Position, Work experience, Gender of auditors 4.4.3 Results of measurement model The author analyzed the measurement model twice The internal consistency test results and the convergent validity of concepts in the adjusted measurement model are presented in the table below Table 4.2: Adjusted measurement model results Latent variable s NL DD DL CT AL KH Items NL2 NL3 NL4 NL5 DD1 DD3 DD4 DD5 DL1 DL2 DL3 DL4 CT1 CT2 CT3 AL1 AL2 AL3 KH1 KH3 KH4 Convergent validity Outler loading s 0.783 0.665 0.627 0.783 0.829 0.686 0.675 0.756 0.764 0.745 0.725 0.780 0.852 0.693 0.735 0.620 0.705 0.900 0.797 0.804 0.682 Construct Reliability and Validity Discriminan t Validity AVE Cronbach’ s Alpha Rho_ A 0.51 0.689 0.717 Passed 0.54 0.730 0.762 Passed 0.56 0.747 0.750 Passed 0.58 0.652 0.707 Passed 0.56 0.636 0.796 Passed 0.58 0.650 0.674 Passed 15 KS HN1 HN2 HN3 CL KS1 KS3 KS4 HN1 HN1 HN1 HN2 HN2 HN2 HN2 HN2 HN3 HN3 HN3 HN3 CL1 CL2 CL3 CL4 0.826 0.739 0.756 0.777 0.788 0.60 0.674 0.699 Passed 0.60 0.672 0.672 Passed 0.52 0.776 0.777 Passed 0.51 0.689 0.698 Passed 0.51 0.693 0.711 Passed 0.766 0.707 0.695 0.732 0.744 0.752 0.727 0.645 0.724 0.776 0.633 0.799 0.709 0.724 4.4.4 Results of structure model 16 The research needs to evaluate the statistical significance of the relationships between the concepts to serve as a basis for accepting or rejecting the hypothesis This step is done by calculating estimates and running boostrap estimations 500 times to determine the significance level Figure 4.2: Results of testing the path model 4.4.5 Results discussion The results of hypothesis testing from the structural model show that Auditor competence, Code of ethics, Personal motivation and Influence from superior have a positive impact on Professional skepticism by level of impact respectively (0.186; 0.233; 0.254; 0.265) The statistical significance levels are at 0.1% The coefficients of Time pressure, Auditor-client relationship, Legal responsibility and quality control have the expected sign but they are not statistically significant Table 4.3: Results of main research hypotheses 17 Hypotheses Research hypotheses Results H1.1 Auditor competence has a positive impact on Supported auditor’s professional skepticism H1.2 Code of ethics has a positive impact on auditor’s Supported professional skepticism H1.6 Personal motivation has a positive impact on Supported auditor’s professional skepticism H1.3 Influence from superior has a positive impact on Supported auditor’s professional skepticism H1.7 Time pressure has a negative impact on auditor’s professional skepticism Rejected H1.4 Auditor-client relationship has a negative impact on auditor’s professional skepticism Rejected H1.5 Legal responsibility and quality control has a positive impact on auditor’s professional skepticism Rejected H2.1 Professional skepticism has a positive impact on Supported audit quality CONCLUSION OF CHAPTER CHAPTER CONCLUSION AND IMPLICATIONS 5.1 Conclusion The main results of the thesis suggest that the following research hypotheses are supported: 18 Auditor competence, Code of ethics, Personal motivation, Influence from superior, Time pressure, Auditor-client relationship, Legal responsibility and quality control, Professional skepticism, Audit quality  Auditor competence has a positive impact on auditor’s professional skepticism;  Code of ethics has a positive impact on auditor’s professional skepticism;  Personal motivation has a positive impact on auditor’s professional skepticism;  Influence from superior has a positive impact on auditor’s professional skepticism;  Professional skepticism has a positive impact on audit quality 5.2 Managerial implications For auditing firms, auditors  Firstly, auditing firms demand to sign labour contracts in accordance with regulations to avoid fraudulent cases in registration for operations and follow the right regime for employees to help the auditors stay engaged with the company in the long term  Secondly, the auditor's competence should be maintained and updated through internal training courses of the company Besides, soft skills are also essential in the current context Therefore, negotiation techniques are essential for auditors Because if the auditor can convince customers to change the financial statements information with the cooperation and continue the service contract, instead of letting customers admit errors leading to deadlock and loss of customers Therefore, excellent negotiation skill will help auditors maintain professional skepticism  Third, studies show that requiring auditors to maintain a constant level of skepticism may not lead to a high chance of detecting fraud Therefore, professional skepticism beyond what is emphasized in auditing standards can take another form, such as critical thinking Critical 19 thinking is an important element of the individual activity to analyze and evaluate the substance of an issue through a rigorous assessment process (Natale and Ricci, 2006)  Fourth, assessing the results of work is decisive to the promotion of auditors Therefore, the design and performance evaluation are very important in promoting and maintaining professional skepticism  Fifth, the review and evaluation activity is carried out throughout the process of auditing to maintain professional skepticism (Rich et al., 1997) Therefore, auditing firms may apply a rotation policy of reviewers of auditing groups regularly to maintain professional skepticism  Sixthly, auditor’s decision-making tools through audit software programs, analytical tools, depending on the client's business sector, will help maintain professional skepticism This is to minimize priorities when conducting audits and to avoid potential risks  Seventh, personal motivation affects professional skepticism through a decline in efforts to find appropriate evidence Therefore, establishing the appropriate personal motivation will better auditors to increase auditing efforts, leading to the reduction of audit risks Therefore, the auditing firm should emphasize the importance of a reasonable level to avoid performing the audit excessively or below the required level  Eighth, professional associations and the general public expect that auditors adhere to principles of professional ethics rather than legal responsibility In addition to providing guidance for ethical decisionmaking, the firm's ethics codes may also provide a range of questions that auditors may ask themselves to determine whether their decisions are in compliance with the principles 5.3 Policy implications For the regulator, professional associations Regulator should continue to improve the legal framework for independent auditing and implement quality control from external auditing companies in Vietnam in order to maintain audit quality With the new situation, VACPA needs to continue changing the content level, form and improving the quality of training services, training courses to 20 update the knowledge about the nature of professional skepticism for better understanding of important factors effect on audit quality 5.4 Limitations and future research directions The limitation arises from the measurement of the research concept, which has two views on the state-owned vocational education and the appropriate level of professional skepticism Therefore, if using other measures, it is possible to make comparisons on the level of assessing professional skepticism and comparing these measurements Limited from the relationships among variables in research model, the research concepts in research model can be related to each other However, with the goal of the research is that factors affecting professional skepticism to improve audit quality have not considered these relationships Therefore future research may consider these relationships CONCLUSION OF CHAPTER GENERAL CONCLUSION The interest in professional skepticism is always the research priority of researchers and professional associations around the world Despite many different viewpoints about professional skepticism and audit quality, all of them have the same viewpoint that professional skepticism has an important influence on improving audit quality Therefore, this research is conducted to identify the factors that affect professional skepticism and the impact of professional skepticism attitude on audit quality Thereby, assessing the influence of factors on the concepts of professional skepticism and audit quality in order to test these relationships in the Vietnamese context From the results of the market data, the author identifies the factors of auditors, auditing firms that affect auditor’s professional skepticism with regulator and social contexts in Vietnam Besides, it also affirms the importance of professional skepticism for audit quality from the perspective of research in developing countries The author makes theoretical and practical contributions based on the research results In summary, as research limitations still exist, the research contributes to the research overview of professional skepticism in developing countries With the need for research on professional skepticism both from professional associations in the world and current researchers, future research directions on the concept 21 of professional skepticism and related relationships Finally, the author hopes that the content of the thesis is a reference on the subject matter of the auditor in general for relevant stakeholders 22 LIST OF RESEARCH HAVE BEEN PUBLISHED BY AUTHOR RELATED TO THE DISSERTATION Nguyễn Vĩnh Khương 2016 Professional skepticism in appropriate actions in financial audit, Journal of accounting and auditing, 9, pp 2729 Nguyễn Vĩnh Khương 2016 Enhance professional skepticism in financial audit, Journal of auditing studies, 109 (11), pp.20-26 Nguyễn Vĩnh Khương 2017 Determinants of professional skepticism in Vietnamese auditing firms, Economy And Forecast Review, 15(5), tr.34-40 Nguyễn Vĩnh Khương 2018 Evaluation of auditor’s professional skepticism in financial audit in Vietnam, Journal of auditing studies, 124 (02), pp 20-28 ... factors qualitative research method Preliminary quantitative research - quantitative research method Main quantitative research - quantitative research method 3.3 Research method 3.3.1 Qualitative... nature of professional skepticism for better understanding of important factors effect on audit quality 5.4 Limitations and future research directions The limitation arises from the measurement of... Professional skepticism The International Standard of Auditing No 200 and Vietnam Audit Standard No 200 address the definition of Professional skepticism – An attitude that includes a questioning mind,