Evidence: Types & Procedures

Read time: ~5 minutes

Sufficient = quantity; Appropriate = relevance + reliability
Reliability: auditor's own knowledge > external > internal-with-good-controls > internal-with-weak-controls; original > copies; written > oral
Vouching → existence (records back to source); Tracing → completeness (source forward to records)
Inquiry alone is never sufficient
Positive confirmation = higher risk/large balances; Negative = low risk, effective controls, many small homogeneous balances
No response to negative confirmations ≠ agreement