Mike Noseworthy, CPA 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

The first statement is true as auditors are responsible for forming an opinion based on sufficient appropriate evidence. The second statement is incorrect because appropriateness refers to the quality of evidence, while sufficiency refers to the quantity.

Mike Noseworthy, CPA Was Excited to See His Audit Manager