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.

• Key is evidence by the auditor, client, 3 party, written or
rd

oral..?.

• Relevance – does it address the risk/ assertion in

question?

• Stock count addresses existence and valuation, and not

rights!
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