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c. What characteristics of evidence should an auditor be concerned with
when searching for and evaluating audit evidence? LO 8 LO 9 mes25435_ch01_001-032.indd
mes25435_ch01_001-032.indd 30 1-27 John Josephs, an audit manager for Tip, Acanoe, & Tylerto, was asked
to speak at a dinner meeting of the local Small Business Administration
Association. The president of the association has suggested that he talk
about the various phases of the audit process. John has asked you, his
trusted assistant, to prepare an outline for his speech. He suggests that you
answer the following:
a. List and describe the various phases of an audit.
b. Describe how audit procedures designed for one purpose might provide
evidence for other purposes. Give an example.
c. One of the phases involves understanding an entity’s internal control.
Why might the members of the association be particularly interested in
the work conducted by auditors in this phase of the audit?
1-28 Many companies post their ﬁnancial statements and auditor’s report on
their home pages, generally und...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.