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Unformatted text preview: Evidence 1) What type (nature, competence) 2) When? (Timing) 3) How much? (extent, sufficiency) Types of Tests 1) Understanding IC 2) Tests of Control 3) Analytical Review Procedure 4) Substantive Test of Transactions 5) Detailed Tests of Balances Characteristics of Evidence Persuasiveness Of Evidence = f(competence, sufficiency, timeliness) Competence = f(relevance, independence of provider, IC, qualifications of provider, objectivity) Sufficiency = f(materiality, risk, expectation) Timeliness = f(planning, beginning of audit, coverage of entire year’s transaction processing, interim testing, closeness to B/S date, end of audit)...
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.
- Fall '08