12 Audit evidence is documentary proof in support of the transactions and it is viable for the auditor to collect the relevant and sufficient audit evidence to form his opinion. What is the principle of collecting audit evidence? a. None of the options b. Lower the audit risk, more audit evidence is necessary c. Higher the audit risk, more audit evidence is required d. Higher the audit risk, less audit evidence is needed
12 Audit evidence is documentary proof in support of the transactions and it is viable for the auditor to collect the relevant and sufficient audit evidence to form his opinion. What is the principle of collecting audit evidence? a. None of the options b. Lower the audit risk, more audit evidence is necessary c. Higher the audit risk, more audit evidence is required d. Higher the audit risk, less audit evidence is needed
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12
Audit evidence is documentary proof in support of the transactions and it is viable for the auditor to collect the relevant and sufficient audit evidence to form his opinion. What is the principle of collecting audit evidence?
a.
None of the options
b.
Lower the audit risk, more audit evidence is necessary
c.
Higher the audit risk, more audit evidence is required
d.
Higher the audit risk, less audit evidence is needed
Clear my choice
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