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Audit Evidence

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Audit Evidence

ISA 330 The Auditor's Responses to Assessed Risks requires the auditor to design and perform audit procedures whose "nature, timing and extent are based on and are responsive to the assessed risks of material misstatement."

In essence the auditor has to obtain audit evidence sufficient to enable them to offer reasonable assurance that the financial statements are free from material misstatement. Therefore the selection and application of the procedures designed to achieve this are of vital importance to an effective audit.

Auditors are required to obtain sufficient and appropriate evidence to form an audit opinion. Modern auditing also requires consideration of a number of additional factors that affect the design of audit procedures, namely:

Created at 10/5/2012 11:51 AM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London
Last modified at 11/1/2016 4:14 PM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London

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ACCAPEDIA - Audit Evidence