Evidence Trouble Concepts

Question 1

When does an auditor determine to apply analytical procedures as substantive tests

Answer 1

Availability, Reliability, and precision of data used to develop expectations

Question 2

PCAOB states relevance of audit evidence depends on

Answer 2

1) Timing of audit procedure
2) audit procedures is designed to test for
a) understatement/overstatement
b) directly test an assertion

Question 3

PCAOB states reliability of audit evidence depends on

Answer 3

The circumstances under which audit evidence is gathered

Question 4

Analytical procedures may be used as an substantive test if

Answer 4

IF the analytical procedures are more efficient and effective at providing a level of assurance than test of details