This summary is based on a paper by Glover and Prawitt (2013) that was commissioned and published by the Standards Working Group of the Global Public Policy Committee, a working group that comprises the six largest international audit networks. The application of professional skepticism by auditors is important to audit quality. However, various definitions of, and perspectives on, professional skepticism exist in the auditing literature. We propose a “professional skepticism continuum” that acknowledges that the appropriate application of professional skepticism will depend on the risk characteristics of the account and assertion. We also lay out the different structural levels where professional skepticism is applied and where threats to its appropriate application can arise. We argue that regulation can actually threaten the appropriate application of auditor skepticism if regulation and/or inspection focus is not properly aligned with relevant audit risks. Finally, we provide some ideas and recommendations on how the application of professional skepticism might be enhanced on the part of auditors, as well as how other key stakeholders can contribute to its effective application.