Professional Documents
Culture Documents
Janice Aud
Janice Aud
Underlying Information
Accounting
Data
AUDIT
EVIDENCE Conclusions
(ISA 500)
Corroborating
Information Auditor’s
Opinion
QUALITIES OF EVIDENCE
Factors: (CMaRE)
Sufficiency Quantity
Competence
Materiality
Risk
Experience
Elements:
•Relevance – timeliness
- satisfaction of
audit objective
Appropriateness Quality
•Reliability - objectivity
Information Sources:
1. Obtained directly by
the auditor
2. Independent outside
sources
3. Documents and
written representations
4. Accounting & Internal
Control Systems
COST OR BENEFIT CONSIDERATION