Podcast
Questions and Answers
What factor affects the quantity of audit evidence needed?
What factor affects the quantity of audit evidence needed?
- The quality of audit evidence
- Both the risk of misstatement and quality of audit evidence (correct)
- The auditor's professional judgment
- The risk of misstatement
Which statement about the relevance of audit evidence is incorrect?
Which statement about the relevance of audit evidence is incorrect?
- None of the given statements are incorrect.
- The auditor often obtains evidence from different sources for the same assertion.
- A set of audit procedures may provide evidence relevant to some assertions but not others.
- Obtaining evidence for one assertion can substitute for another assertion. (correct)
Which generalization about the reliability of audit evidence is incorrect?
Which generalization about the reliability of audit evidence is incorrect?
- Evidence obtained directly by the auditor is more reliable than indirect evidence.
- Documentary evidence is more reliable than other forms.
- Evidence from independent sources outside the entity is more reliable.
- Internally generated evidence is not affected by the entity's controls. (correct)
Which statement about audit evidence is incorrect?
Which statement about audit evidence is incorrect?
Which categories of assertions are used by the auditor?
Which categories of assertions are used by the auditor?
What does the text state about assertions related to classes of transactions and events?
What does the text state about assertions related to classes of transactions and events?
Which of the following statements about audit evidence is correct?
Which of the following statements about audit evidence is correct?
Which of the following is least likely to be included in accounting records?
Which of the following is least likely to be included in accounting records?
Which of the following is least likely to be considered as other information that the auditor may use as audit evidence?
Which of the following is least likely to be considered as other information that the auditor may use as audit evidence?
What is the measure of the sufficiency of audit evidence?
What is the measure of the sufficiency of audit evidence?
What is the measure of the appropriateness of audit evidence?
What is the measure of the appropriateness of audit evidence?
Which of the following statements about audit evidence is incorrect?
Which of the following statements about audit evidence is incorrect?
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