Mike Noseworthy, CA was excited to see his audit manager and blurted out: (i) It is our responsibility as auditors to arrive at an audit opinion by gathering sufficient appropriate evidence.
(ii) Appropriateness is the quantity and sufficiency is the quality of audit evidence gathered.
Which of these statements were true?

Question

Quizplus · Accepted Answer

Statement (i) is true as auditors are responsible for forming an audit opinion based on sufficient appropriate evidence. Statement (ii) is incorrect because appropriateness refers to the quality of evidence, while sufficiency refers to the quantity.

Mike Noseworthy, CA Was Excited to See His Audit Manager