Explore BrainMass

Explore BrainMass

    What role does auditing evidence play in protecting the audi

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What role does auditing evidence play in protecting the auditor and the client? What steps must be taken to ensure the evidence accurately supports the conclusions? Please use attachment.

    © BrainMass Inc. brainmass.com June 4, 2020, 1:34 am ad1c9bdddf


    Solution Preview

    Audit evidence gives the auditor support for the audit conclusions. It protects the auditor and client because it shows that found a variety of support for the financial statement assertions. This support is like a series of arguments or tests that shows that the assertions are likely well-founded and correct. If they are questioned about whether there are material misstatements, the audit can show the work they did to assure themselves that the assertions were true. The documentation of evidence shows that they planned and executed the audit competently, documented the results of their findings and concluded based on the results of their inquiries and tests of controls, ...

    Solution Summary

    Your tutorial is 438 words and explains how audit evidence protects clients and auditors and explains the analogy to science and law evidence.