“Sufficient appropriate audit evidence” is a phrase mentioned by U.S. Generally Accepted Auditing Standards (AU-C Section 500), International Auditing Standards (ISA 500), and PCAOB Auditing Standards (AS 1105). We know it is critical to be able to conclude that we, as auditors, have obtained enough evidence to provide a basis for our audit opinion. But what does this mean? Is it judgmental? Or formulaic? What can be considered audit evidence? What are the key attributes of good audit evidence?
In this 1.0 CPE-eligible eLearning course, we’ll explore the answer to those mysteries and more as we take a closer look at the definition of audit evidence, how much audit evidence is required, and how to tell if it is relevant and reliable. You’ll consider the interaction between audit evidence and financial statement assertions, specific audit procedures, selecting items for testing, and you’ll even explore evidence obtained from others. This course is a must for any auditor, whether auditing under U.S. GAAS or PCAOB audit standards!
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