Reference no: EM131949844 , Length: word count:750

Assignment -

Aim for between 500-750 words - so be concise and precise!

Chapter 5 of your text explores audit evidence. Using the SAME entity you selected for Assessment Task 2A you need to explain some of the challenges you see in gathering various types of evidence as the financial report auditor for your chosen entity.

Choose and identify any three (3) types of audit evidence identified in Chapter 5 of your text. For each of the three types you need to explain the challenges you would face as the financial statement auditor in gathering and being persuaded given the nature of your chosen entity's business.

Here are a couple of examples to get you thinking -

If your chosen entity is a mining company, and you wanted to (briefly) discuss the challenges of gathering physical evidence ... would you rely on evidence from the client, your own observations, an expert of some kind? Why? If you said the client, what is an example of the physical evidence the client may be able to provide to persuade you? Ask that same question about your own observations or an expert. Perhaps some combination of these providers?

If you chose the challenges of oral evidence, what specific matters would you wish to seek this type of evidence about for your chosen entity? From whom would you seek this evidence, and most importantly, how might you seek to corroborate any responses you obtain?

Remember the word limit and the above are only (some) examples.