Which of the following is a correct statement regarding audit evidence? a. A large sample of evidence provided by an independent party is always considered persuasive evidence. b. The auditor must obtain a sufficient amount of relevant and reliable evidence to form an opinion on the fairness of the financial statements. c. A small sample of only one or two pieces of highly appropriate evidence is always considered persuasive evidence. d. Evidence is usually more reliable for balance sheet accounts when it is obtained within six months of the balance sheet date.
Which of the following is a correct statement regarding audit evidence? a. A large sample of evidence provided by an independent party is always considered persuasive evidence. b. The auditor must obtain a sufficient amount of relevant and reliable evidence to form an opinion on the fairness of the financial statements. c. A small sample of only one or two pieces of highly appropriate evidence is always considered persuasive evidence. d. Evidence is usually more reliable for balance sheet accounts when it is obtained within six months of the balance sheet date.
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 1RQSC
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Which of the following is a correct statement regarding audit evidence?
a.
A large sample of evidence provided by an independent party is always considered persuasive evidence.
b.
The auditor must obtain a sufficient amount of relevant and reliable evidence to form an opinion on the fairness of the financial statements.
c.
A small sample of only one or two pieces of highly appropriate evidence is always considered persuasive evidence.
d.
Evidence is usually more reliable for balance sheet accounts when it is obtained within six months of the balance sheet date.
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