chapter 7 - Chapter 7 Audit Evidence 1. Nature of Evidence...

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1 Chapter 7 Audit Evidence 1. Nature of Evidence a. Six characteristics of evidence: 1. _____________________________ 2. _____________________________ 3. _____________________________ 4. _____________________________ 5. _____________________________ 6. _____________________________ b. Audit evidence decisions: ( AIS T iming) 1. ___________________________________ 2. ___________________________________ 3. ___________________________________ 4. ___________________________________ Review Question 7-2 c. Audit program – what is it? Review Question 7-4 2. Persuasiveness of Evidence – See Table 7.2 A & T Appropriateness Relevance Reliability AIET O bjectivity & Q ualification A __________________________________________ I __________________________________________ E __________________________________________ T __________________________________________ O __________________________________________ Q __________________________________________ I & S Sufficiency - _____________________ and _______________________ Review Question 7-7, 7-8 3. Types of Audit Evidence Audit Evidence: ROAD PIC (Take Pic tures while you are on a Road trip for audit evidence) R R e-performance & R e-calculation P P hysical examination O O bservation I I nquiries of the client (Client inquiry) A A nalytical procedures C C onfirmation D D ocumentation Review Question 7-9
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2 a. Two types of confirmation: _______________________ and ________________________ b. Four characteristics of confirmation: ___________________________, ___________________________, ___________________________ ___________________________ Review Question 7-10
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This note was uploaded on 03/23/2011 for the course ACC 123 taught by Professor W during the Spring '11 term at Prince George's Community College, Largo.

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chapter 7 - Chapter 7 Audit Evidence 1. Nature of Evidence...

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