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Chapter

Audit Evidence

Auditing and Ethics

34 topics

  1. Meaning of Audit Evidence
  2. Relevance and Reliability of audit evidence
  3. Sufficient appropriate audit evidence, Meaning of Assertions
  4. Assertions contained in the Financial Statements
  5. Source of audit evidence
  6. Test of controls
  7. Substantive Procedures- Test of details and Substantive analytical procedures, Audit procedures for obtaining audit evidence
  8. Evaluation of Audit Evidence (SA 500 Audit Evidence), Audit Trail. (Using the work of Internal Auditors – SA 610)
  9. Internal audit function
  10. External Auditor’s Responsibility for the audit, Evaluating the internal audit function
  11. Basics of Internal Financial Control and reporting requirements
  12. Distinction between Internal Financial Control and Internal Control over Financial Reporting
  13. Audit Sampling: (SA 530 Audit Sampling)
  14. Meaning of Audit Sampling
  15. Designing an audit sample
  16. Types of sampling (Approaches to Sampling)
  17. Sample Size and selection of items for testing
  18. Sample selection method
  19. Obtaining evidence of existence of inventory
  20. Audit procedure to identify litigation & claims, obtaining evidence regarding the presentation and disclosure of segment information (SA 501 Audit Evidence - Specific Considerations for Selected Items)
  21. External confirmation procedures
  22. Management’s refusal to allow the auditor to send a confirmation request
  23. Negative Confirmations (SA 505 External Confirmations)
  24. Audit evidence about opening balances
  25. Accounting policies relating to opening balances
  26. Reporting with regard to opening balances (SA 510 Initial Audit Engagements-Opening Balances)
  27. Meaning of Related Party
  28. Nature of Related Party Relationships & Transactions
  29. Understanding the Entity’s Related Party Relationships & Transactions (SA 550 Related Parties)
  30. Analytical Procedures
  31. Meaning, nature, purpose and timing of analytical procedures
  32. Substantive analytical procedures
  33. Designing and performing analytical procedures prior to Audit
  34. Investigating the results of analytical procedures (SA 520 Analytical Procedures)
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