Assessing audit evidence is a crucial aspect of the auditing process that involves evaluating the information obtained during an audit to determine its reliability and relevance to the audit objectives.
The quality of audit evidence is influenced by factors such as its source, nature, and reliability. By effectively assessing audit evidence, auditors can provide reasonable assurance to stakeholders that the financial statements are free from material misstatement and comply with relevant accounting standards and regulations.
Audit evidence is information that auditors gather through observing processes, interviewing people, examining records, and researching and benchmarking information. It should provide a factual basis for audit opinions and conclusions relative to the audit objectives.
This webinar will help you to understand what to look at and how much to assess to achieve the audit objectives.
Every internal audit engagement aims to assess the adequacy and effectiveness of key management controls in the area under review. In order to do that, the auditor has to decide what evidence to review and how much is needed to achieve the audit objectives.
This Auditing Webinar will discuss the various types of evidence to be reviewed.
