What is Audit Evidence?
Recall that the auditor’s role is to obtain sufficient appropriate
audit evidence to be able to draw reasonable conclusions on which
to base their audit opinion. The auditor needs to obtain evidence
to support each assertion that management is proposing.
What exactly constitutes evidence? Audit Evidence refers to
the source documents and accounting records (i.e., ledgers,
journals) that support the financial statements and all other
information that is pertinent to the audit. In deciding how to
collect this evidence, an auditor must plan three important
factors: the nature, extent, and timing of the audit evidence