Audit Evidence Flashcards
(7 cards)
1
Q
what is audit evidence?
A
It’s all the information the auditor uses to draw conclusions and support their audit opinion
2
Q
what must the audit evidence be?
A
- sufficient: enough quantity
- appropriate: quality, must be relevant and reliable
3
Q
what are the types of audit procedures?
A
- analytical procedures
- enquiry and confirmation
- inspection
- observation
- recalcUlation and reperformance
4
Q
what does audit sampling mean?
A
means the auditor selects a portion of the population to test and draw conclusions
5
Q
what are the types of sampling techniques?
A
- random
- systematic
- haphazard
- monetary unit
- block
6
Q
what does haphazard sampling mean?
A
selecting items without a method
7
Q
what does monetary unit sampling mean?
A
that larger value items have a higher chance of selection
