Week 2 DQ3

 

The third generally accepted standard of audit fieldwork requires that auditors obtain sufficient, competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under examination.  In considering what constitutes sufficient, competent audit evidence, a distinction should be made between underlying accounting data and all corroborating information available to the auditor.  What presumptions can be made about the following?

  • The relative competence of evidence obtained from external and internal sources.
  • The role of internal control with respect to internal evidence produced by a client's data processing system.

 

The relative persuasiveness of auditor observation and recalculation evidence compared to external, external-internal, and internal documentary evidence.      

    • 9 years ago
    ACC 490 Week 2 DQ 3
    NOT RATED

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