Audit Evidence and Procedures by LOW YONG ENN https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg Introduction and purpose of audit evidence and procedures en-us 2020-10-22 08:57:42 UTC 2026-03-17 02:47:04 UTC hello@padlet.com Audit Evidence and Procedures lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851735810 2020-10-22 08:59:51 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851735810 Audit Evidence lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851750971 2020-10-22 09:07:11 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851750971 Audit Procedures lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851751366 2020-10-22 09:07:23 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851751366 ISA 500 lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851753524 2020-10-22 09:08:28 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851753524 Definition lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851775500
  • obtained from audit procedures or other sources
  • consists of information that supports and corroborates management's assertions.

    • ]]>     2020-10-22 09:19:35 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851775500     Purposes lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851783841
  • drawing reasonable conclusions to support the audit opinion
  • support the company's claims made in the financial statements
    • ]]>     2020-10-22 09:23:56 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851783841     Definition lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851795831
  • steps performed by auditors to get all information - form an opnion on financial statement - reflect true and fair view
    • ]]>     2020-10-22 09:30:30 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851795831     Purposes lowyongenn10 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851801524
  • determines the quality of the financial information
  • decide whether a client's financial statements fairly represent
    • ]]>     2020-10-22 09:33:27 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/851801524     Appropriateness of Audit Evidence i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858115897 2020-10-24 15:17:52 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858115897 Definition i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858119476
  • the measure of the quality of audit evidence
    • ]]>     2020-10-24 15:21:55 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858119476     Relevance i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858122640
  • the assertion being tested and is affected by several factors
    • ]]>     2020-10-24 15:25:41 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858122640     Reliability i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858124958
  • It is judged by its ability to provide convincing evidence 
  • It is include by its source and its nature
    • ]]>     2020-10-24 15:28:17 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858124958     Factors affect relevance of evidence i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858126929
  • direction of testing
  • vouching
  • tracing
    • ]]>     2020-10-24 15:30:27 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858126929     Reliability of audit evidence i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858129103
  • more reliable and less reliable
  • Internal documentation and external documentation
    • ]]>     2020-10-24 15:32:54 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858129103     Type of procedures i18015608 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858131443
  • direct evidence
  • indirect evidence
    • ]]>     2020-10-24 15:35:22 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/858131443     Types of Audit Procedures i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876136236 2020-10-30 12:42:32 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876136236 Observation i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876146476 2020-10-30 12:46:17 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876146476 Purposes i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876170070
  • drawing reasonable conclusions to support the audit opinion
  • support the company's claims made in the financial statements
    • ]]>     2020-10-30 12:54:20 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876170070     Inspection i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876174925 2020-10-30 12:55:59 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876174925 Comfirmation i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876182524 2020-10-30 12:58:27 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876182524 Recalculation i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876185196 2020-10-30 12:59:18 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876185196 Reperformance i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876188466 2020-10-30 13:00:25 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/876188466 Sufficiency of Audit evidence lsk21999 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879834042 2020-11-01 11:57:21 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879834042 Definition lsk21999 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879839431
  • The measure of the quantity of audit evidence
    • ]]>     2020-11-01 12:04:20 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879839431     Sample Size lsk21999 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879908769 2020-11-01 13:14:59 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879908769 Factors lsk21999 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879910013
  • Risk Assessment
  • Materiality of the accounts 
  • Size of population
  • Quality of evidence
  • Economic factors
    • ]]>     2020-11-01 13:16:11 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879910013     Substantive test lsk21999 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879985247
  • When determining sample sizes for a test of details. such as confirmations, recalculation, analytical procedures and more.
  • The auditor considers client factors such as the risk of material misstatement and the assurance obtained from other substantive procedures.
    • ]]>     2020-11-01 14:25:11 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/879985247     Test of controls lsk21999 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880192738
  • Enquiry
  • Inspection of documentation
  • Reperformance
  • Observation
    • ]]>     2020-11-01 17:00:31 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880192738     Categories of audit procedures i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880748924 2020-11-02 00:59:26 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880748924 Risk assessment process i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880799135
  • Inquires of Management
  • Inspection
  • Analytical Procedures
  • Observation
    • ]]>     2020-11-02 01:31:05 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880799135     Test of control i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880807155 2020-11-02 01:36:04 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880807155 Substantive procedures i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880808525
  • Substantive Analytical Procedures
  • Test of Details of Classes of Transactions
  • Test of Details of Account Balances
  • Test of Details Disclosures
    • ]]>     2020-11-02 01:37:01 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880808525     Classes of Transactions i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880822619
  • Occurrence
  • Completeness
  • Accuracy
  • Cut-off
  • Classification
    • ]]>     2020-11-02 01:46:14 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880822619     Account Balances i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880826587
  • Existence
  • Rights & Obligations
  • Completeness
  • Valuation & Allocation
    • ]]>     2020-11-02 01:49:07 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880826587     Disclosures i18015759 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880829466
  • Occurrence & Rights & Obligations
  • Completeness
  • Classification & Understandability
  • Accuracy & Valuation
    • ]]>     2020-11-02 01:51:14 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/880829466     i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923747258
  • to inspect others doing/ performing a particular process. 
    • ]]>     2020-11-15 05:47:29 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923747258     i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923748698
  • To checks every transaction/ document against written steps, procedures to ensure accuracy.
    • ]]>     2020-11-15 05:48:51 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923748698     i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923750055
  •  to ensure the correctness of financial statements either from internal sources within the auditee organization or from external sources.
    • ]]>     2020-11-15 05:50:01 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923750055     i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923751564
  •  crosses the checks information presented by the client. 
    • ]]>     2020-11-15 05:51:28 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923751564     i18015395 https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923752299
  • generally used in case of checking mathematical accuracy.
    • ]]>     2020-11-15 05:51:56 UTC https://padlet.com/lowyongenn10/4mv7obbc1jjjsrhg/wish/923752299