audit procedures for obtaining audit evidence, Auditing

audit procedures for obtaining audit evidence, Auditing

Assignment Help:

AsList and define five audit procedures for obtaining audit evidence.

(ii) Why is it necessary to obtain corroborating evidence for inquiry and observation?

(iii) What is the difference between test of transactions and tests of balances?

Part B

The auditor finds it necessary to rely on audit evidence that is persuasive rather than conclusive and will often seek audit evidence from different sources or of a different nature to support the same assertion. The reliability of audit evidence is not only important in determining sufficiency (quantity) of the information, but also the appropriateness (quality) of the information. Reliability of audit evidence is influenced by its source and its nature.

Required:-

(i) Define the following terms:

a. Reliability of evidence;
b. Persuasiveness of evidence;
c. Relevance of evidence

(ii) Why does an auditor prefer persuasive evidence as opposed to conclusive evidence?k question #Minimum 100 words accepted#

Related Discussions:- audit procedures for obtaining audit evidence

Briefly explain different types of audit, Government has recently set up a ...

Government has recently set up a parastatal body responsible for waste management in Mauritius. The management is unsure as to the need for an audit and the setting up of an intern

Audit report, impact on audit report of going concern

impact on audit report of going concern

Tangible non current assets, Tangible Non Current Assets The verificat...

Tangible Non Current Assets The verification approach is fundamentally similar in each of these. Extensive disclosure is utilized in most countries and IAS 16 Property Equipm

Different question even same case, could I post my orginal question?

could I post my orginal question?

Existence - detailed audit of stock, Existence - Detailed Audit of Stock ...

Existence - Detailed Audit of Stock In the previous the auditor accepted a director's certificate as to the existence of stocks. Until some cases specifically in the United S

Audit, Why is studying Auditing different from studying other accounting to...

Why is studying Auditing different from studying other accounting topics?

Reliability - sources of evidence, Reliability - Sources of evidence R...

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 c

.audits, distinguish between early audits and modern audits

distinguish between early audits and modern audits

Audit function, Audit Function The audit functions as follows as: 1...

Audit Function The audit functions as follows as: 1. To verify the estimation of timing differences; 2. To ensure such permanent differences have not been got into accou

IDEA auditing software edition 8, The first work you do in IDEA IS SECTION ...

The first work you do in IDEA IS SECTION 2.5. The accounts receivable folder that you are instructed to select on page 25 is a folder that you are to create previously on page 23.

Write Your Message!

Name

Email id

Message

Verfication Code

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd