Audit Evidence Is Usually Considered Sufficient When
However, When Determining Whether They Have Enough Evidence on File the Auditor Must Consider: the Risk of Material Misstatement; the Materiality of the Item...
However, when determining whether they have enough evidence on file the auditor must consider:
- the risk of material misstatement;
- the materiality of the item;
- the nature of accounting and internal control systems;
- the auditor’s knowledge and experience of the business;
- the results of controls tests;
What constitutes sufficient appropriate audit evidence is a matter of judgment?
Sufficiency is the measure of the quantity of audit evidence. … Whether the audit evidence obtained in the course of an engagement is sufficient and appropriate to support the auditor’s opinion is a matter of professional judgment that the auditor needs to establish.
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What is appropriate and sufficient evidence?
Sufficiency is the measure of the quantity of audit evidence. … Appropriateness is the measure of the quality of audit evidence; that is, its relevance and its reliability in providing support for the conclusions on which the auditor’s opinion is based.
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