New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    _______ refers to the information collected by an

    auditor to ascertain the accuracy and compliance of a company's financial statements.
    A Investigation Correct Answer Incorrect Answer
    B Audit evidence Correct Answer Incorrect Answer
    C Working papers Correct Answer Incorrect Answer
    D Vouching Correct Answer Incorrect Answer
    E Verification Correct Answer Incorrect Answer

    Solution

    Audit evidence is the information and documentation gathered by an auditor during the audit process to support their conclusions and opinions regarding the accuracy and compliance of a company's financial statements. It includes various forms of evidence, such as financial records, invoices, bank statements, contracts, and other relevant documents. The auditor carefully examines and evaluates this evidence to form a reasonable basis for their audit findings and opinions. Audit evidence plays a crucial role in providing assurance and credibility to the financial statements and ensuring the overall integrity of the auditing process.

    Practice Next

    Relevant for Exams: