Week 8 - Audit Evidence

Question 1

What is very strong evidence?

Answer 1

Usually auditor generated e.g performed bank reconciliation yourself

Question 2

When very weak evidence, what are we looking for?

Answer 2

Corroborative evidence - other tests that prove what they are saying is correct

Question 3

If no other evidence, what do we do?

Answer 3

At end of audit, say to client that there are only management representations - ask them to sign saying this is correct - puts the responsibility on them