Read the overview below and complete the activities that follow. Auditors must gather a combination of many
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Question:
Read the overview below and complete the activities that follow.
Auditors must gather a combination of many types of audit evidence to best reduce their audit risk. There are seven major types of audit evidence: 1) accounting information system, 2) documentary evidence, 3) third-party representation, 4) physical evidence, 5) computations, 6) data interrelationships, and 7) client representations.
Concept Review:
Audit evidence is any information that corroborates or refutes the auditors' premise that the financial statements present fairly the client's financial position and operating results.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Posted Date: