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AUDIT EVIDENCE (TYPES OF AUDIT EVIDENCE (Physical examination,…
AUDIT EVIDENCE
TYPES OF AUDIT EVIDENCE
Physical examination
Confirmation
Inspection of documentation
Observation
Inquiries of the client
Recalculation
Reperformance – vouching and tracing
Analytical procedures.
4 TYPES DECISIONS
item to select
sample size
audit procedures
timing
ANALYTICAL PROCEDURES
Among financial and non-financial data
Evaluations of financial relationships
Understanding the client’s industry and business
Analysis of plausible relationships
BENEFITS
statistical techniques
auditor's computer software
big data and auditors
PERSUASIVENESS OF EVIDENCE
sufficency
compentence/reliability