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ASA500 requires the auditor to obtain sufficient appropriate evidence to support the opinion issued in an audit report. Auditors must be persuaded that their opinion is correct with a high level of assurance. In the audit of Jones Computer Parts Co. Ltd the auditor concludes there is a high likelihood of obsolete inventory. Required: Identify the two factors that determine the persuasiveness of audit evidence.

ASA500 requires the auditor to obtain sufficient appropriate evidence to support the opinion issued in an audit report. Auditors must be persuaded that their opinion is correct with a high level of assurance. In the audit of Jones Computer Parts Co. Ltd the auditor concludes there is a high likelihood of obsolete inventory. Required: Identify the two factors that determine the persuasiveness of audit evidence.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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ASA500 requires the auditor to obtain sufficient appropriate evidence to support the opinion issued in an audit report. Auditors must be persuaded that their opinion is correct with a high level of assurance. In the audit of Jones Computer Parts Co. Ltd the auditor concludes there is a high likelihood of obsolete inventory.
Required:
Identify the two factors that determine the persuasiveness of audit evidence.

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