There are a number of different methods in obtaining audit evidence including the following: i) analytical...

 

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There are a number of different methods in obtaining audit evidence including the following: i) analytical procedure ii) audit sampling iii) tests of controls iv) detailed testing of transactions and balances v) computer assisted audit techniques (CAATS) These methods overlap and may be used for different purposes during an audit of financial statements. Required: a) Determine the relationship between the five methods of evidence gathering described above. [10 marks] b) Evaluate TWO (2) factors that determine the cogency of audit evidence. [6 marks] c) Relate with example any THREE (3) factors that will impact the auditor's judgement in relation to the audit evidence sufficiency. [9 marks] There are a number of different methods in obtaining audit evidence including the following: i) analytical procedure ii) audit sampling iii) tests of controls iv) detailed testing of transactions and balances v) computer assisted audit techniques (CAATS) These methods overlap and may be used for different purposes during an audit of financial statements. Required: a) Determine the relationship between the five methods of evidence gathering described above. [10 marks] b) Evaluate TWO (2) factors that determine the cogency of audit evidence. [6 marks] c) Relate with example any THREE (3) factors that will impact the auditor's judgement in relation to the audit evidence sufficiency. [9 marks]

Answer rating: 100% (QA)

a The relationship between the five methods of evidence gathering is that it is to be performed by the auditor in an audit engagement for obtaining re... View the full answer