- 20 Marks
AA – Nov 2021 – L2 – Q2 – Audit Evidence
Discuss characteristics of good audit evidence and testing procedures for gathering it.
Question
ISA 500 on audit evidence sets out the objective of the auditor is to design and perform audit procedures in such a way to enable him to:
(i) Obtain sufficient and appropriate audit evidence
(ii) Draw reasonable conclusions
(iii) Base his audit opinion
Required:
a. Identify THREE characteristics of a good audit evidence. (3 Marks)
b. List and explain briefly FIVE testing procedures for gathering audit evidence. (10 Marks)
c. What factors will the auditor consider when assessing the reliability of audit evidence? (7 Marks)
(Total 20 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Audit evidence, ISA 500, Reliability, Testing Procedures
- Level: Level 2
- Topic: Audit evidence
- Series: NOV 2021
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