Audit evidence-validity of sources of evidence

Assignment Help Auditing

Reference no: EM1354043

(Audit evidence) The third GAAS of field work requires that the auditor obtain sufficient competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under audit. In considering what constitutes sufficient competent evidential matter, a distinction should be made between underlying accounting records and other information available to the auditor.

Required

a) Discuss the nature of audit evidence to be considered by the auditor in terms of the underlying accounting records, other corroborating information available to the auditor, and the methods by which the auditor tests or gathers competent evidence.

b) State the presumptions that can be made about the validity of audit evidence with respect to (1) other information and (2) underlying accounting records.

Reference no: EM1354043

Questions Cloud

Reimbursement rates-contribution margin : What are the expected rates of reimbursement for this time frame for each payer? What is your expected accounts receivable? What is the rate that you should charge for these services (using one charge rate for all payers)? Find the total charges for ..

Research a writing guide for forensics organization : Your manager has asked you to research and recommend a writing guide that examiners in your computer forensics organization will use for all official written reports.

Symptoms of depression across cultures : What are some of the variations that exist in symptoms of depression across cultures?

Illustrate what was the cost of recalls per year : Illustrate what was the cost of recalls per year before the software was purchased if the company did exactlyy recover its investment in 4 years from the 10% reduction.

Audit evidence-validity of sources of evidence : The third GAAS of field work requires that the auditor obtain sufficient competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under audit.

Calculation of fixed assets or sales ratio : Corporation x has 5 billion in sales and 1.7 billion in fixed assets. currently the corporation's fixed assets are operating at 90% of capacity.

Understanding your corporate culture : Is it important to understand your corporate culture in order to work with other organizations across the globe?

What is speed of the electron due to potential difference : assume the coefficient of kinetic friction between m_{rm A} and the plane in the figure is mu_k = 0.15, and that m_{rm{A}} = m_{rm{B}} = 2.7{rm{ kg}}. What smallest value of mu _{rm{k}} will keep the system from accelerating.

Describe relationship between pay structure change : Describe the relationship between pay structure change and market conditions and show the major issues and sub-issues that influence the employee's pay.

User Account

All Pages