Prepare a “Cheat Sheet” that briefly describes Audit Evidence and Documentation Standards, which includes the following topics. Each topic should be 90 to 175 words:
April 7th, 2023
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Prepare a “Cheat Sheet” that briefly describes Audit Evidence and Documentation Standards, which includes the following topics. Each topic should be 90 to 175 words:
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In further preparation for your audit of the company your team selected, you decided to gather your team and discuss Audit Evidence and Documentation Standards for this audit. Your preparation included a review of evidence and documentation literature (Ch. 7). To properly prepare the staff that will be working with you, you decide to create a Cheat Sheet on Evidence and Documentation to be used in your presentation.
Prepare a “Cheat Sheet” that briefly describes Audit Evidence and Documentation Standards, which includes the following topics. Each topic should be 90 to 175 words:
- Comparison of Audit, Scientific and Legal Evidence Standards.
- Consideration of Sample Sizes and Methods (random, haphazard, monetary unit sample, judgmental) and how sampling affects evidence.
- Relevance, Reliability and Sufficiency of Evidence.
- Brief statement on the 80 types of audit evidence (physical examination, observation, confirmations, inquiry, recalculation, etc.).
- Purpose, Ownership, Confidentiality and Retention of Documentation.