Reliability - Sources of evidence

Reliability of audit evidence is influenced through its nature and its source and since it is dependent upon the specific circumstances, we can create some generalizations that:

1. Audit evidence is much more reliable whenever it is got from independent sources outside the entity.
2. Audit evidence which is generated internally is more reliable whenever the related controls imposed through the entity are effective.
3. Audit evidence obtained directly through the auditor as for example, to observation of the application of a control is more reliable rather than audit evidence obtained directly or indirectly or through inference as for example, inquiry concerns the application of a control.
4. Audit evidence is much more reliable whenever it exists in documentary form, where paper, other medium or electronic as for example, a contemporaneously written record of a meeting is much more reliable rather than a subsequent oral presentation of the issues discussed.
5. Audit evidence provided through original documents is more reliable rather than audit evidence given through photocopies or through facsimiles.