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

Q: What does the term is Audit risk mean?

A: Audit: It refers to the examination, analysis, evaluation, or review of the company's financial…

Q: hat are the factors upon which reliable and relevant audit evidence depends o

A: Information that backs up and corroborates management's financial statement declarations or internal…

Q: What are analytical procedures, and why are they a useful audit tool?

A: Analytical procedures are those procedures that are used as a substantive test to obtain evidence…

Q: What is directional testing? How does directional testing relateto the appropriateness of audit…

A: Auditing means the process in which the books of the company are audited by a person. The person…

Q: Why audit is a systematic process?

A: Audit: It is an examination of the financial statements of the company. It helps in determining…

Q: What is the primary constraint on audit evidence?

A: Audit evidence is primarily, the data and accounts of the client and its associated third parties,…

Q: the difference between the principles and application in auditing?

A: The answer for the theory question on the difference between the principles and application in…

Q: How does the quality of audit evidence vary depending on who has provided it?

A: Audit evidence is primarily the data and accounts of the client and its associated third parties,…

Q: What are the benefits of audit planning?

A: Introduction:- Audit Planning play very important role to complete the audit effectively within the…

Q: What role does the audit trail play in terms of configaration?

A: Audit trail is a series of documents, files or other evidence of accounting transaction which are…

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: Explain what an audit process is. What is the significance of a well-worded audit procedure?

A: Audit Process; The Objective of an Audit is to express the auditor's opinion whether the Financial…

Q: How does audit risk relate to audit evidence?

A: Audit Evidence   The information obtained by the auditor from numerous sources (finance records,…

Q: What are the differences between an external audit and an internal audit?

A: Internal audit is performed within organization by the auditor appointed by management.

Q: What is information risk when it pertains to auditing?

A: Audit involves risk that the auditor expresses an inappropriate audit opinion when the financial…

Q: what does audit Evidence consist?

A:

Q: EXPLAIN AND WHAT KIND OF AUDIT EVIDENCE NEEDED BY AUDITOR OR AUDITING?

A: Auditing is the process of examining a company's financial records, systems, and processes to ensure…

Q: What are the similarities and differences between internal auditing and external auditing?

A: Audits are performed to ensure that something is correct, such as whether a person is paying their…

Q: what are Audit Assumption

A: Answer: The audit that is conducted is such that there are assumptions made.

Q: ideal outcome of the audit procedure or process? (auditing)

A: Auditing is a procedure conducted by professional accountants to ensure whether the financial…

Q: the context of auditing, what does "tracking" actually

A: In the auditing the audit trails is said to be the process that involved tracking data and verifying…

Q: why each audit evidence is important?

A: Answer: Auditor while performing audit perform set of procedures and collect evidences to support…

Q: dit Review P

A: A pre-audit is  initial phase in  auditing process. A pre-audit examines a firm's or an individual's…

Q: What are the possible obstacles or hindrance of operational audi

A: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot, therefore, obtain…

Q: What characteristics should audit evidence have?

A: It is about the two key features of the audit evidence, based on which the appropriateness content…

Q: what are releveant audit evidence

A: According to the question given, we need to give an explanation of the audit evidence.Audit…