1. The appropriateness of audit evidence refers to its relevance and reliability.
2. The sufficiency of evidence is a measure of evidence quality.
3. When testing for existence, the auditor will vouch recorded transactions.
4. Evidence that is obtained directly from the client is usually considered more reliable than evidence obtained from a source independent of the client.
5. A procedure that involves only inspection of documentation is usually considered to be of lower quality than a procedure involving reperformance.
6. All audit procedures need to be performed at or after the client's balance sheet date.
7. Substantive analytical procedures are required on every audit.
8. One of the most rigorous approaches to substantive analytical procedures is regression analysis.
9. The quantity of audit evidence needed when testing an account will be influenced by the risk of material misstatement in that account.
10. When testing the operating effectiveness of a control, the frequency with which the control is performed will influence the sample size to be used by the auditor.

  • CreatedSeptember 22, 2014
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