Determine which of the following is most correct regarding the reliab O Relatability of audit evidence is dependent upon the evidence being subject O Information that is indirectly obtained from external sources is the most reli In internal controls are effective, evidence obtained is more relatable than w Reliability of evidence refers to the amount of evidence obtained.

Determine which of the following is most correct regarding the reliab O Relatability of audit evidence is dependent upon the evidence being subject O Information that is indirectly obtained from external sources is the most reli In internal controls are effective, evidence obtained is more relatable than w Reliability of evidence refers to the amount of evidence obtained.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter6: A Framework For Audit Evidence

Section: Chapter Questions

Problem 24MCQ

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Question

Determine which of the following is most correct regarding the reliabili
O Relatability of audit evidence is dependent upon the evidence being subjecti
O Information that is indirectly obtained from external sources is the most relia
In internal controls are effective, evidence obtained is more relatable than wh
D Reliability of evidence refers to the amount of evidence obtained.

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Determine which of the following is most correct statement regarding the reliability of audit evidence. Select one: a. Reliability of audit evidence is dependent upon the evidence being subjective b. Reliability of evidence refers to the amount of evidence obtained. c. If internal controls are effective, evidence obtained is more reliable than when the controls are not effective. d. Information that is indirectly obtained from external sources is the most reliable audit evidence
Which of the following statements about audit evidence is correct? Group of answer choices There should be a one-to-one relationship between audit objective and audit procedure. Audit evidence is more persuasive when items of evidence from different sources or of different nature are consistent Sufficiency is the measure of the quality of audit evidence and its relevance to a particular assertion and its reliability Appropriateness is the measure of the quantity of audit evidence
Which of the following statements regarding reliability of information is true? The appropriate audit procedures to evaluate reliability depend on timing of the audit Invoices obtained from internal sources are more reliable than invoices obtained from external sources Evidence obtained from a knowledgeable independent source is more reliable than evidence obtained from internal sources Scanned versions of original documents are as reliable as the original documents
Explain the factors that influence the reliability of audit evidence.
Which of the following presumptions is correct about the reliability of evidential matter? a. To be reliable, evidential matter should be convincing rather than persuasive. O b. Reliability of evidential matter refers to the amount of corroborative evidence obtained. O c. Effective internal control provides more assurance about the reliability of evidential matter. O d. Information obtained indirectly from outside sources is the most reliable evidential matter.
Which of the following statements is correct regarding detection risk and the audit risk model? OA. The two components of detection risk are test of details risk and inherent risk. B. Detection risk is equal to risk of material misstatement divided by audit risk. OC. There is an inverse relationship between the risk of material misstatement and detection risk. OD. There is a direct relationship between control risk and detection risk.
Inherent risk and control risk differ from detection risk in which of the following ways? A. Inherent risk and control risk are calculated by the client B. inherent risk and control risk exist independently of the audit. C. Inherent risk and control risk are controled by the auditor. D. Inherent risk and control risk exist as a result of the auditor's judgement about materiality.
Which of the following characteristics is not a measure of the appropriateness of audit evidence? Quality of audit evidence. Relevance of evidence in providing support for, or detecting, misstatements in transactions, balances, disclosures and related assertions. Reliability of audit evidence Quantity of the audit evidence
How does the quality of audit evidence vary depending on who has provided it?
What are the benefits of subtantive test of transactions in auditing?
What is the primary constraint on audit evidence?
what are releveant audit evidence