Chapter 3: Audit evidence Flashcards by Saadat Ahmed | Brainscape

Q

Reliability of evidence: meaning

A

Reliability of evidence depends on the evidence’s source, nature and circumstances under which it is obtained.

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Q

Factors of reliable evidence [5]

CODED

A

Strong internal CONTROLS
Original
Documentary
External
Direct

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Q

Examples of risks at F/S level [4]

A

Fraud by management
Going concern issues
Management override of controls
lack of competence and integrity of the management

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