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Complete the Description of Auditing Procedures by Filling in the Gaps

Question 3

Short Answer

Complete the description of auditing procedures by filling in the gaps with terms from the following list:
sufficient
statements
relevant
sample
truth
inquiry
sampling
confirmations
observation
reliable
vouching
-Auditors must gather ________________reliable evidence in order to support their conclusions as to the ________________and fairness of financial reporting. They use various techniques for gathering evidence including ________________, re-performance, re-calculation, ________________, analytical procedures, third party ________________ and ________________. Audit evidence must be ________________ and capable of evidencing the effectiveness of internal controls and the ___________ relating to classes of transactions.

Correct Answer:

verifed

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