Page 18 - PowerPoint Presentation

GENERAL PRINCILES OF AUDITING

Audit Evidence (Continued…)

• Appropriate Evidence – quality of evidence obtained

• Consist of Reliability and Relevance of the evidence to the

assertion being audited.

• Reliability – some evidence is more reliable than other.

Refer to Auditing Notes page 5/21 for the Hierarchy of

reliability for audit evidence.

• Is evidence by the auditor, client, 3 party, written or oral..?.
rd

• Relevance – does it address the risk/ assertion in question?

• Stock count addresses existence and valuation, and not

rights!

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