Appropriateness of audit evidence considers what two evidence characteristics? Define these characteristics and identify factors that affect these characteristics.
Answer to relevant QuestionsRefer to Exhibit and describe the differences between vouching and tracing.An auditor has to determine both the reliability and the relevance of potential audit evidence in order to determine that appropriate audit evidence is gathered.a. Explain the difference between relevance and reliability.b. ...Sufficiency is a measure of the quantity of evidence. Identify factors that affect evidence sufficiency.What is meant by the statement audit documentation ought to stand on its own? What is the importance of this concept?Using appropriate resources, locate the financial statements of a company with which you are familiar. Identify specific account balances for which analytical procedures would be appropriate for conducting substantive tests ...
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