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Elevating Professional Judgment in Auditing and Accounting: The KPMG Professional Judgment Framework 

Recipient of the 2013 AAA/Deloitte Wildman Medal Award

With the move toward a more principles-based financial reporting framework and increased emphasis on fair value measurement, the ability to consistently make high quality professional judgments is increasingly important. KPMG has produced a monograph intended for use as a supplement in college-level auditing and accounting courses to help students understand the components of and threats to good professional judgment. Elevating Professional Judgment in Auditing and Accounting: The KPMG Professional Judgment Framework will help students understand what professional judgment is and how to develop and practice it. This Framework and training are intended to elevate judgment quality and professional skepticism, and to provide a common vocabulary that facilitates implementation and mentoring on professional judgment.

About the Wildman Medal Award: The Wildman award, first presented in 1979, recognizes a work published within the most recent 5 years that the judges view as “the most significant contribution to the advancement of the practice of public accountancy (including audit, tax and management services).