Audit Evidence

“Sufficient appropriate audit evidence” is a phrase mentioned by U.S. Generally Accepted Auditing Standards (AU-C Section 500), International Auditing Standards (ISA 500), and PCAOB Auditing Standards (AS 1105). We know it is critical to be able to conclude that we, as auditors, have obtained enough evidence to provide a basis for our audit opinion. But what does this mean? Is it judgmental? Or formulaic? What can be audit evidence? What are the key attributes of good audit evidence? This audit evidence CPE eLearning course (1.0 CPE), we explore the answer to those mysteries and more. 

First, we take a closer look at the definition of audit evidence. Next you explore how much audit evidence is required. Afterwards, you discover how to tell if it is relevant and reliable. You’ll consider the interaction between audit evidence and financial statement assertions, specific audit procedures, selecting items for testing, and you’ll even explore evidence obtained from others.

Topics covered include: 

• Forms and sources of audit evidence
• Evaluating information to be used as audit evidence
• Specific considerations - Using the work of management's specialist
• Specific considerations - Information from external sources

This audit evidence CPE course is a must for any auditor, whether auditing under U.S. GAAS or PCAOB audit standards!

Interested in group discounts for your team or firm? Contact us to learn more. 

 By the end of this course, you should be able to: 

• Define audit evidence and the key components of the definition 
• Recall the various forms and sources of audit evidence
• Identify procedures to be performed when evaluating information to be used as audit evidence
• Recall the additional requirements for using the work of management’s specialist as audit evidence
• Recall the specific considerations regarding the use of external information sources