Question 1

Appropriateness and sufficiency of evidence Discuss the importance of the phrase "sufficient appropriate evidence is to be obtained..." How do auditing standards define sufficiency and appropriateness?

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Question 2

Internal and external documentation Distinguish between internal documentation and external documentation as types of audit evidence.Give two examples of each.Which type is considered more reliable?

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Question 3

Reliability of audit evidence The Auditing Standards Board established guidelines to assist auditors in evaluating the reliability of audit evidence.Discuss the criteria for the more reliable types of evidence and include an example for each.

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Question 4

Audit procedures
Discuss how each of the following procedures could be used in the audit of fixed assets, e.g., various types of equipment used in the business.
$\begin{array} { lll } 
\text { Procedure } & \text { How used } &\text { Assertion(s) tested }\
\text { Observation } \
\text { Physical examination } \
\text { Inquiry } \
\text { Confirmation } \
\text { Examination of documents } \
\text { Recomputation } \
\text { Reprocessing } \
\text { Vouching } \
\text { Analytical } \
\text { Procedures }
\end{array}$

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Discuss how each of the following...

Question 5

Audit program Discuss the purpose of the audit program and its importance to the auditor.

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Question 6

Audit standards of proper documentation Discuss the audit standards that must be applied to the auditor's documentation.Give five examples of the types of documentation found in the audit work papers.

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Question 7

Audit procedures Businesses often have litigation against them that the auditor has to identify and adequately disclose.List the financial assertions that apply to Contingencies.For each assertion indicate two or three audit procedures that would address that assertion. Organize you answer as follows: 
Financial statement assertion   $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ Audit procedure(s)

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Question 8

Audit assertions and procedures for testing cash balances Identify and demonstrate the audit assertions and different approaches to obtaining audit evidence for an audit of cash balances in a financial statement audit.

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Question 9

Proper audit documentation Audit documentation serves as the primary support of an audit.Give at least six examples of the components of proper working paper documentation.

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Quiz 6: Audit Evidence