Purchase Solution

Timing of collecting evidence would be important

Not what you're looking for?

Ask Custom Question

"four decisions" that auditor's must make in determining the amount and type of evidence to collect. In my opinion, the first three are probably the ones auditors focus on the most. However, I think the fourth point regarding the timing is just as critical (if not more important) in most circumstances. Timing can be influenced by standards or regulations, which is critical in terms of compliance. But it also can be important to the reliability of the information. It was an unspoken rule in our internal audit department that audits were not started between Thanksgiving and New Years. This is naturally when most try to take vacation days, so obtaining information was really difficult. It just wasn't a productive way to spend our time.

Can you think of any other situations where the timing of collecting evidence would be important?

Purchase this Solution
Solution Summary

Timing of collecting evidence which would be the more important is examined.

Solution Preview

Kizirian et al (2005) provide that timing of evidence collection reflects an auditor's confidence in client's internal controls such that evidence provided before year end is expected to reasonably reflect year end results and processes. We can therefore relate the timing audit evidence collection to client credibility that financial reports accurately portray the company's position through out the year (Kizirian et al, 2005). Audit risk is an important factor to consider in evaluating when to carry out audit evidence collection.

Considering client's internal control mechanisms can therefore affect when audit evidence is collected. When internal controls are ...

Purchase this Solution
Free BrainMass Quizzes
Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

View More Free Quizzes
Related BrainMass Solutions

  • Computer Forensics

    (ii) All handling of digital evidence from collection through to preservation and analysis must be fully documented Documentation is an important step in the process of collecting digital evidence which further finds its importance in other phases

  • Forensic accountant's role in evidence collection

    Should evidence collection and preservation be left only for law enforcement professionals? The forensic accountant should play an important role in collecting evidence.

  • Computer Forensics: Damage to Evidence and Consequences

    In conclusion, I would like to state that proper precautions must be taken while collecting and analyzing digital evidence, as there are stringent criteria in order for the evidence to be considered admissible in the court of law.

  • The auditor's assessment of internal controls

    The auditor's assessment of internal controls can "help the auditors develop the audit program, which specifies the nature, timing, and extent of further audit procedures necessary for gathering sufficient evidence...

  • Evaluating Evidence in Auditing

    Why would this be important? Can you think of a reason that the auditor would perform these types of tests? What about for purchases? One of the important aspects when evaluating evidence in auditing is the timing of the evidence.

  • Discuss issues on computer forensics

    One possible oversight that could occur during the collection and identification of digital evidence process would be the documentation of the detail procedure collecting evidence.

  • Fourth Amendment and Crime Scene Searches

    scene is more important than not collecting enough evidence to successfully solve the crime.

  • bit-by-bit image of the hard drive for forensic purposes.

    Why it is important to have a bit-by-bit image of the hard drive for forensic purposes? When collecting evidence, it should be as close to its natural state, untouched and untampered with.

  • Criminalistics: Crime Scene Responsibilities

    The crime scene would be rendered insolvent in regard to it would not be able to yield any evidence and/or any evidence that was yielded would not be able to be used in court to convict a suspect of any crime. 3.

View More Related Solutions