Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Auditing Expert

Problem: The examination of evidence is essential to the audit procedure. International Standard of Auditing (ISA) 500 states that: the auditors should acquire sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base audit opinion. Evidence is accessible to the auditors from sources under their own control, from the management of the company and from third parties. Each of these sources presents the auditors with varying considerations as to quality of the evidence so produced. 
Required:

problem1. Briefly describe what are reliable, relevant and sufficient audit evidences.

problem2. Describe the quality of the following kinds of audit evidence, giving two exs of each form of evidence.

(i) Evidence originated by auditors

(ii) Evidence created by third parties

(iii) Evidence created by management of the client.

Auditing, Accounting

  • Category:- Auditing
  • Reference No.:- M94353

Have any Question? 


Related Questions in Auditing

Assignment accounting and audit enforcementusing the

Assignment: Accounting and Audit Enforcement Using the Internet, Strayer databases, or the Securities and Exchange Commission's Website, located at http://www.sec.gov/divisions/enforce/friactions/friactions2012.shtml, pe ...

Assignment question 1impulse pty ltd impulse is an

Assignment Question ( 1) Impulse Pty Ltd (Impulse) is an entertainment system manufacturer that was established in 2005. Your audit firm King & Queen have been the auditor of Impulse since its formation. The audit report ...

Assignment- auditing planthis assignment will require you

ASSIGNMENT- Auditing Plan. This assignment will require you to use the skills gained in Module/Week 8 to create an auditing plan for a sport or entertainment organization. Please select a professional sports team, colleg ...

Audit report assignmentinstructions activities you will

Audit Report Assignment Instructions (Activities you will perform to help you write your assignment report): • Public Company is Under Armour, Inc. • Access the financial statements for a recent year through the SEC fili ...

Develop critical analysis skills in relation to auditor

Develop critical analysis skills in relation to auditor independence and issues in accepting audit engagements. Background information This assignment is based on the Professional Application Question 2.37 in your e-text ...

Write a report that discusses emerging issuestop risks and

Write a report that discusses emerging issues/top risks and its impact on internal auditing. Topic: Third-party relationships - Ensuring third-party adherence to regulatory mandates Two pages' long Single spaced Times Ne ...

Assignmenta credit union is developing a new ais the

Assignment A credit union is developing a new AIS. The internal auditors suggest planning the systems development process in accordance with the SDLC concept. The following nine items are identified as major systems deve ...

Audit assurance and compliance assignmentquestion 1

Audit, Assurance and Compliance Assignment Question 1 - Impulse Pty Ltd (Impulse) is an entertainment system manufacturer that was established in 2005. Your audit firm King & Queen have been the auditor of Impulse since ...

Objectivesanswer the following questions with reference to

Objectives Answer the following questions with reference to the relevant common law and equity principles operating in Australia concerning contracts plus related and other transactions. Do not consider the effects of le ...

Objectivesthis assignment is designed to assess students

OBJECTIVES This assignment is designed to assess students' ability to: - Produce a concise detailed report about the importance of information security audit policy and its components - To have excellent understanding re ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro