Exam 8: Audit Evidence and Assurance

The audit program prepared by the independent auditors prior to the start of field work is considered appropriate documentation of

Spoken and written representations given by the auditee's officers, directors, owners, and employees are generally considered reliable enough to stand on its own.

Loan application documents are considered authoritative evidence.

Identify the two types of audit programs and indicate the purpose of each.

Contrast the qualitative aspects of evidence in terms of reliability.

The overall audit strategy is documented in the:

The auditor is the legal owner of the working papers related to an auditee's financial statements.

There are two kinds of audit programs: (1) balance-audit programs and (2) cycle-audit programs.

In preparing for a repeat engagement, the first thing an audit team should do is:

A combination of evidence gathering techniques provides more persuasive than evidence gathered from a single technique.

Which of the following is true about specialists?

Analysis is most useful in providing evidence of:

An auditor selects audit procedures which will provide:

Substantive procedures give direct evidence about the financial amounts reported in the financial statements.