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Science220 Science220
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A year ago
For audit evidence to be compelling to the auditor it must be sufficient and appropriate. Which statement below is not correct regarding the appropriateness of audit evidence?

▸ The more effective the internal control system, the more assurance it provides the auditor about the reliability of financial reporting by the client.

▸ An auditor's opinion, to be economically useful and profitable to the auditing firm needs to be formed within a reasonable time and based on evidence obtained that assures profits for the auditing firm.

▸ Evidence obtained from independent sources outside the entity is generally more reliable than evidence secured solely within the entity.

▸ The independent auditor's direct personal knowledge, obtained through inquiry, observation and inspection, is generally more persuasive than information obtained indirectly.
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Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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whtsi_ep3whtsi_ep3
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Science220 Author
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A year ago
Thanks for your help!!
erimis
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Yesterday
This site is awesome
Chaldoren
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Good timing, thanks!
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