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

Q: If an analytical procedure confirms audit findings from other procedures, it provides persuasive…

A: Solution concept                 analytical procedure means the procedure of comparing the…

Q: Which one below is not an example of auditors'substantive testing? Select one: a. Controls testing.…

A: Substantive testing is such an audit procedure that is used for examination of financial statement…

Q: Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has…

A: A cash budget is an estimate of a corporation's cash flows for a given time span. A cash budget is…

Q: Which of the following statements regarding reliability of information is true? The…

A: Audit evidence represents the information auditors use to conduct the audit process. The auditors…

Q: clarify the relationship between audit risk and materiality determining the right degree of audit…

A: Auditing is defined as the systematic study of financial information and verification of the…

Q: factor to be considered by an auditor while performing analytical procedures?

A: Option a is wrong because it is a correct statement. Auditor will procure an expected amounts or…

Q: which of the following is correct about the appropriateness of evidence? A. Audit evidence from…

A: Audit is the process of checking the financial statement and identifying the errors and…

Q: The risk that material errors will not be detected is directly controllable by the auditor through…

A: Auditor: An auditor is a person or a group of people who is responsible for conducting an audit of…

Q: What do you focus on most when evaluating the relevance of information or audit evidence? Whether…

A:

Q: Inherent risk and control risk differ from detection risk in which of the following ways? A.…

A: Inherent risk is the risk of misstatement of financial statements due to factors other than flaws in…

Q: Which of the following characteristics is not considered essential to audit evidence? a.…

A: SOLUTION- CHARACTERISTICS NOT CONSIDERED AS AN ESSENTIAL OR NECESSARY TO AUDIT EVIDENCE- THE…

Q: = appropriateness of audit evidence

A: An audit evidence is said to be appropriate when it enables the auditor to express an unbiased and…

Q: Determine which of the following is most correct regarding the reliab O Relatability of audit…

A: Auditing refers to the process of physically inspecting all the financial records of an entity or an…

Q: Explain what is meant by the term acceptable audit risk. Whatis its relevance to evidence…

A: Accepted Audit Risk:- When the auditor is willing to take risk of giving an unqualified opinion for…

Q: Which of the following presumptions is correct about the reliability of evidential matter?

A: The correct answer is : (C) Effective internal control provides more assurance about the reliability…

Q: Characteristics that affect the reliability of evidence include: a. Form of the evidence obtained b.…

A: Reliability of evidence is the degree to which one can believe blindly on the evidence, that is, the…

Q: Which of the following statements is true? Select one: a. If evidence is subjective, it cannot be…

A: Auditor: An auditor is a person or a group of people who is responsible for conducting an audit of…

Q: Which of the following characteristics is not a measure of the appropriateness of audit evidence?…

A: Relevance and reliability are the two most important characteristics of audit evidence.

Q: Generally accepted auditing standards (the performance principle) require auditors to gather…

A:

Q: Which of the following presumption is correct about the reliability of audit evidence

A: Reliability of audit evidence :-  Evidence from sources outside an entity is more reliable than…

Q: Explain the factors that influence the reliability of audit evidence.

A: Audit evidence is all the information that the auditor uses in arriving at the conclusions on which…

Q: .“It is the auditors’responsibility to gather sufficient appropriate evidence to reachtheir opinion.…

A: .“It is the auditors’responsibility to gather sufficient appropriate evidence to reachtheir opinion.…

Q: In obtaining audit evidence, the auditor should use professional judgment to assess the risk of…

A: Auditing means the independent checking of company operation by outsider. Auditor is a qualified and…

Q: Which of the following statements is correct about the reliability of audit evidence? a.…

A: Audit evidence means evidence or supportings that is obtained by auditor during the course of audit.…

Q: Distinguish between internal documentation and external documentation as types of audit evidence.…

A: Internal documentation:   An internal documentation is prepared within an organization of the client…

Q: Incorporating elements of unpredictability in the selection of audit procedures to be performed by…

A: Audit Procedures: The particular and specific procedures undertaken by auditors to procure evidence…

Q: Why is it necessary to evaluate the attributes of audit evidence? Explain

A: The information gathered by an auditor to determine the correctness and conformity of a…

Q: statements about audit evidence is correct

A: First option is wrong because the statement is about relationship between audit objective and audit…

Q: While planning a specific audit, the PRIMARY purpose of assessing risks of the area under review is…

A: Audit is the process of checking and reviewing books of accounts that these are reflecting true and…

Q: Which of the following is not a technique of collecting audit evidence? a. Analytical procedures. b.…

A: Audit Evidence It is the information collected by an auditor in order to make sure  the accuracy and…

Q: How the relevancy deals in the information to be used as an Audit Evidence? O a. Audit evidence in…

A: Audit is the inspections of the accounting books of the firm every year which is done by the…

Q: The size of the subset of items the auditor examines is primarily a function of materiality and the…

A: Audit sampling is the application of an audit procedure to less than 100 percent of the items within…