ac316_7 - What What is evidence? What What are audit...

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Unformatted text preview: What What is evidence? What What are audit evidence decision? decision? The The list of audit procedures is called ………….. The The list of audit procedures procedures is called ………….. ………….. Evidence Evidence Persuasiveness of evidence 1) Relevance 2) Competence - Independence of provider - Effectiveness of client’s internal control Evidence - Auditor’s direct knowledge - Qualification of individual providing providing the information - Degree of Objectivity _ Timeliness 3) Sufficiency Relevance Pertain Pertain to or be relevance relevance to the audit objective objective Sufficiency Measured Measured by a ……………………………. Type Type of Audit Evidence Evidence Physical Physical examination Confirmation Confirmation Documentation Documentation Observation Observation Inquiries Inquiries Reperformance Reperformance Analytical Analytical procedures Terms used in audit procedures procedures Examine Examine Scan Scan Read Read Compute Compute Recompute Recompute Foot Foot Trace Trace Compare Compare Count Count Observe Observe Enquire Enquire Analytical Procedures Compare Compare client and industry data Compare Compare client with similar prior prior-period data Compare Compare client with clientclientdetermined expected results Compare Compare client with auditorauditordetermined expected results Compare Compare client with expected results, results, using non financial data ...
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This note was uploaded on 01/20/2010 for the course ECONO econ132 taught by Professor Anderson during the Fall '09 term at UCSB.

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