Definition of audit evidence, Auditing

Definition of Audit Evidence

"Audit evidence" which is all the information used through the auditor in arriving on the conclusions on such the audit opinion is support, and involves the information gathered in the accounting records underlying the financial statements and other information or knowledge. Auditors are not expected to address all information that may prove. Audit evidence, which is cumulative in behavior, involves audit evidence obtained from audit procedures performed while the course of the audit and may involve audit evidence contained from other sources that like previous audits and a firm's quality control procedures for client continuance and acceptance.

Posted Date: 1/24/2013 7:19:29 AM | Location : United States







Related Discussions:- Definition of audit evidence, Assignment Help, Ask Question on Definition of audit evidence, Get Answer, Expert's Help, Definition of audit evidence Discussions

Write discussion on Definition of audit evidence
Your posts are moderated
Related Questions
Forms of evidence a) Observation: is usually witnessing internal control and book-keeping procedures. It includes attendance at wages pay out. Observation of stock-take, open

Reserves - Audit Process Movements in reserves need disclosure in the balance sheet, the loss and profit account, the director's reports or in the notices to the accounts. The


Beneficial Ownership and Existence Existence Existence of buildings and Land is not hard to display. You may even be sitting in such building.  Conversely, the audito

Cost and Authorization - Detailed audit of stock Cost A favor of the auditor this is restricted generally to determining the technique adopted through the organization


As a senior in a professional services firm, you have been assigned to plan the financial statement audit of a private company named Toy Local Corporation (TLC). In addition, the p

Objectivity - External Auditor Report Many accounting figures are subjective and contain substantial terms of subjective judgment.  Many more business transactions have financ

Explain the independence between the auditor and the client on financial statement audit engagements

assume that auditors lost a civil lawsuit for damages and the court found total losses of $5 million. if the auditors were determined to be 30 percent at fault and were the only so