Auditing and Assurance: Make audit evidence persuasive

Related BrainMass Solutions

• The auditor's assessment of internal controls

  (Auditing and Assurance Services, p. 37, 2006)" Why is it important that an auditor obtain "sufficient evidence"? What makes evidence competent or persuasive?

• Auditor collect documentation, perform analytical procedures

  If the best evidence which is highly reliable, independent, competent and objective is not persuasive enough in the auditing process then the auditing conclusions can not gain any substantive confidence.

• GAAS: Due Professional Care

  Reasonable assurance is a high level of assurance in which the auditor is expected to plan and perform the audit for the purpose of gathering sufficient and appropriate evidence to limit the audit risk.

• attestation engagement reports

  To express an opinion, the practitioner must gather sufficient evidence to reduce attestation risk to an acceptably low level. Attestation risk is similar to the audit risk concept used in Statements on Auditing Standards.

• What should auditors do if their evidence is questioned?

  If the auditor's evidence does not appear persuasive while the audit is going on, the auditor is required to expand scope and gather more evidence.

• Planning an Audit: Internal Controls and Audit Objectives

  Messier Jr. states in Auditing and Assurance Services, "internal control has a direct effect on the scope of the audit" (2003, p 211). Messier believes an auditor's first step should be to understand the internal controls.

• CPA review: 300 word summary of the main concepts in auditing

  the audit for the evidence needed and staffing the assignment.

• Auditing, attestation, and assurance services

  First, the definitions of audit, attest and assurance: Auditing is the term used to describe the process of obtaining objective evidence as to the reliability and integrity of financial information or statements.

• Differences in assurance, attestation and auditing services

  Auditing is the term used to describe the process of obtaining objective evidence as to the reliability and integrity of financial information or statements. It includes procedures such as testing systems and gathering evidence.