In gathering evidence to conduct an audit, it is important for the following information: identification of the name of the client, period covered, description of the contents, initial of the preparer, date of the preparation, and an index code. explain why it is important for these items to be included in the evidence gathering.

In gathering evidence to conduct an audit, it is important for the following information: identification of the name of the client, period covered, description of the contents, initial of the preparer, date of the preparation, and an index code. explain why it is important for these items to be included in the evidence gathering.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

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

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

Chapter6: Audit Evidence

Section: Chapter Questions

Problem 7CYBK

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Similar questions

When collecting audit evidence the nature, timing and extent of the evidence play a critical role. What do these terms refer to in relation to evidence that is collected?
The most commonly used form of audit evidence is: a. Oral representation b. Written documents c. Visual observations d. Analytical procedure
Explain why it is important for audit documentation to include eachof the following: identification of the name of the client, period covered, descriptionof the contents, initials of the preparer and the reviewer, dates of the preparation andreview, and an index code
What do you focus on most when evaluating the relevance of information or audit evidence? Whether the information is obtained directly or indirectly. Whether the information comes from a reputable source. The completeness and accuracy of the information. The relationship of the information to the objective of the procedure being performed.
what are techniques you will use to obtain the sufficient appropriate audit evidence?
list the four types of information the auditor should obtain or review as a part of gaining background information for the audit, and provide one specific example of how the information will be useful in conducting an audit.
Audit testing relates to the completeness and occurrence assertions. Discuss the testing activities of vouching and tracing as they relate to either the occurrence or the completeness assertion. Provide an example of a vouching audit step and a tracing audit step and explain which provides evidence as to the occurrence and which provides evidence for the completeness assertion.
Which of the following is the major purpose of performing analytical procedures in internal audits? a. To perform additional audit procedures. b. To plan the audit engagement. c. To obtain audit evidence. d. To study relationships among elements of information.
The following are procedures to obtain audit evidence except: a. Physical examination. b. Organization. c. Confirmation. d. Analytical procedures.
What is the purpose and used of audit confirmation materials?
In a situation that uses inspection of records and documents as a type of evidence, distinguish between vouching and tracing in terms of the direction of testing.
Do you know what the auditor's current audit documentation files contain?