What is the most reliable type of evidence?
Evidence provided by original documents is more reliable than evidence provided by photocopies or facsimiles, or documents that have been filmed, digitized, or otherwise converted into electronic form, the reliability of which depends on the controls over the conversion and maintenance of those documents.
Which is the most reliable evidence in the audit?
Audit evidence provided by original documents is more reliable than audit evidence provided by photocopies or facsimiles, or documents that have been filmed, digitised or otherwise transformed into electronic form.
What type of evidence would provide the highest level of assurance in an attestation engagement?
What type of evidence would provide the highest level of assurance in an attestation engagement? Evidence secured solely from within the entity.
Which of the following procedures would provide the most reliable evidence?
Which of the following procedures would provide the most reliable audit evidence? Inspection of bank statements obtained directly from the client’s financial institution.
What is reliable evidence?
More Definitions of Reliable Evidence
Reliable Evidence means reports and articles with scientifically valid data published in authoritative, peer reviewed medical and scientific literature.
What is the least reliable evidence?
Expert opinion is named as the least reliable source of evidence in the ranking of reliability of sources for use in evidence-based medicine.[1,2] 5. Sworn testimony. Sworn testimony is an attempt by the legal system to allow statements of a witness or declarations of a concerned party to be used as evidence.
What are types of audit evidence?
What Are the Types of Audit Evidence?
- Physical examination. …
- Confirmations. …
- Documentary evidence. …
- Analytical procedures. …
- Oral evidence. …
- Accounting system. …
- Reperformance. …
- Observatory evidence.
Which one of the following is the best and most reliable example of evidence when auditing assets or liabilities?
Answer: A. Confirmation of accounts receivable balance. Confirmation of accounts receivable balance is considered to be the most reliable because it…
Which of the following types of audit evidence is best defined as the proof of a fact without reliance on presumptions for support?
Which of the following types of audit evidence is best defined as the proof of a fact without reliance on presumptions for support? Direct. Symbolic representation of a system or series of sequential processes. A new staff auditor was told to perform an audit in an area with which the auditor was not familiar.
What type of evidence would provide the highest level of assurance & least level of assurance respectively in an audit engagement?
An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor, or as established by general practice.
Which of the following services provides the lowest level of assurance about a company’s financial statements?
A review done by an auditor on the financial statements of the company provides the least level of assurance on the financial statements. A review is a limited assurance that there are no modifications required in the financial statements of the company.
What level of assurance is provided by the auditor in audit engagement?
In an audit engagement, the auditor provides a high, but not absolute, level of assurance that the information subject to audit is free of material misstatement. This is expressed positively in the audit report as reasonable assurance.
Which of the following types of audit evidence is most persuasive?
The client’s original signed purchase orders and invoices are a more persuasive type of evidence than evidence directly observed by the auditor.
Which of the following audit procedures provides the most reliable audit evidence?
D. Information obtained indirectly from outside sources is the most reliable audit evidence.
Which of the following forms of evidence gathered by an independent auditor is most reliable?
Documentary evidence is more reliable when it is received by the auditor indirectly rather than directly. Evidence is usually more persuasive for balance sheet accounts when it is obtained: as close to the balance sheet date as possible.