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Chapter 6 3 4

Qualities of audit evidence

ISA 500 Audit Evidence requires auditors to ‘obtain sufficient appropriate audit
evidence to be able to draw reasonable conclusions on which to base the audit
opinion’.

Audit evidence

Sufficient (quantity) Appropriate (quality)

Depends on factors such as:

 Risk
 Materiality Reliable Relevant

 Nature of internal control
system
 Reliability

 Size of population
Proves one or
more of the
financial

statement
assertions

Source Format

 Auditor  Original/written
generated  Copy
 Third party  Oral

 Client generated

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