Which of the following statements is incorrect regarding the reliability of audit evidence? a. While internal audit evidence is considered to be acceptable, the auditor usually prefers audit evidence form external sources. b. Oral representation by the client management is not a valid evidence. c. The effectiveness of accounting and internal control adds to the reliability of internal evidence. d. Audit evidence obtained directly by the auditor is more reliable than that one provided by the client.
Which of the following statements is incorrect regarding the reliability of audit evidence? a. While internal audit evidence is considered to be acceptable, the auditor usually prefers audit evidence form external sources. b. Oral representation by the client management is not a valid evidence. c. The effectiveness of accounting and internal control adds to the reliability of internal evidence. d. Audit evidence obtained directly by the auditor is more reliable than that one provided by the client.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following statements is incorrect regarding the reliability of audit evidence?
a. While internal audit evidence is considered to be acceptable, the auditor usually prefers audit evidence form external sources.
b. Oral representation by the client management is not a valid evidence.
c. The effectiveness of accounting and internal control adds to the reliability of internal evidence.
d. Audit evidence obtained directly by the auditor is more reliable than that one provided by the client.
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