Which of the following statements concerning audit evidence is correct?

Question

Quizplus · Accepted Answer

Choice "B" is correct. The measure of the sufficiency of audit evidence lies in the auditor's judgment. Choice "A" is incorrect. To be appropriate, audit evidence should be both reliable and relevant. Choice "C" is incorrect. The difficulty and expense of obtaining audit evidence concerning an account balance is not a valid basis for omitting the test when there is no acceptable alternative procedure. Choice "D" is incorrect. By itself, a client's accounting data cannot be sufficient audit evidence to support the financial statements. Sufficient, appropriate external evidence must also be obtained to corroborate management's assertions.

Which of the Following Statements Concerning Audit Evidence Is Correct