A client keeps his records in a shoebox with little evidence supporting the entries. This is sufficient to support conclusions in generating an audit report.

Question

Quizplus · Accepted Answer

The records kept in a shoebox with little evidence supporting the entries are not sufficient to support conclusions in generating an audit report. An audit report requires reliable and sufficient evidence to support the conclusions made. Without proper evidence, the auditor cannot provide reasonable assurance about the accuracy of the financial statements.

A Client Keeps His Records in a Shoebox with Little