Supporting Audit Evidence Flashcards
1
Q
What are written representations?
A
They are from an internal source and on their own they do not provide sufficient appropriate audit evidence about the issues tehy relate to
2
Q
What should representations relate to?
A
Matters where they are necessary to support audit evidence
3
Q
Matters where they are necessary to support audit evidence (knowledge management)
A
Where knowledge of facts is confined to management
4
Q
Example of (knowledge management)
A
Management’s future plans or intentions that may affect classification of assets or liabilities
5
Q
Matters where they are necessary to support audit evidence (matter judgment)
A
Where the matter is principally one of judgment
6
Q
Example of (matter judgment)
A
Whether a receivable is a doubtful debt or not
