The pre-numbered receipts as a piece of audit evidence are least persuasive for auditors because sales invoices are generated for the sales made to the customers, and it is a source of revenue, and companies generally do not overvalue their revenues.

Which is generally the most persuasive form of evidence?

The most persuasive evidence, generally, is the externally generated evidence sent directly to the auditor, and the least persuasive evidence is, generally, the internally generated evidence.

Which of the following type of audit evidence is the most persuasive?

Although the bank statements are in the possession of the client, they originated outside of the client and, relative to the other responses, they are the most persuasive.

Which of the following forms of evidence is most reliable?

Answer: A. Confirmation of accounts receivable balance. Confirmation of accounts receivable balance is considered to be the most reliable because it…

Which of the following is the type of audit evidence?

The auditor can obtain different types of audit evidence, and it includes Physical Examination, documentation, analytical procedure, observations, confirmations, inquiries, etc. The type and amount are dependent on the type of organization that is being audited and the required audit scope.

What do you mean by persuasive?

: able to cause people to do or believe something : able to persuade people. See the full definition for persuasive in the English Language Learners Dictionary. persuasive. adjective. per·​sua·​sive | \ pər-ˈswā-siv \

What is the difference between recalculation and Reperformance?

Recalculation consists of checking the mathematical accuracy of documents or records. Recalculation may be performed manually or electronically. A20. Reperformance involves the auditor’s independent execution of procedures or controls that were originally performed as part of the entity’s internal control.

What is sufficient appropriate evidence in auditing?

Appropriateness is the measure of the quality of audit evidence, i.e., its relevance and reliability. To be appropriate, audit evidence must be both relevant and reliable in providing support for the conclusions on which the auditor’s opinion is based.

Which source of evidence is considered the most persuasive or of the highest value in an audit?

B. Information obtained indirectly from independent outside sources is more persuasive than the auditor’s direct personal knowledge obtained through observation and inspection.

Which of the following is an example of objective evidence?

The term includes any statement of fact that somebody documented and based on verifiable tests, observations, or measurements. Evidence that is objective may, for example, be a test log, test report, review report, or non-conformance report.

Which of the following is not a characteristic of the reliability of evidence?

Education of auditor is not characteristic of reliability of evidence. Independence of information provider – He must be reliable.

What are the sources of audit evidence?

5 common sources of substantive audit evidence

• Confirmation letters. Auditors send letters to third parties, such as customers or vendors, asking them to verify amounts recorded in the company’s books.
• Original source documents.
• Physical observations.
• Comparisons to external market data.
• Recalculations.

  What is persuasive and example?

  The definition of persuasive is someone or something with the power to convince. An example of persuasive is an argument that changes someone’s mind. Able to persuade; convincing.

  What is Reperformance in audit evidence?

  Reperformance. . 39 Reperformance is the auditor’s independent execution of procedures or controls that were originally performed as part of the entity’s internal control, either manually or through the use of CAATs, for example, reperforming the aging of accounts receivable.

  Is recalculation an audit procedure?

  Recalculation is the type of audit procedure normally done by re-performing the works performed by the client to assess if there is any difference between the audit’s work and the client’s work. Recalculation is the procedure that use to confirm the accuracy of transaction that involves calculation.

  What is sufficient appropriate evidence?

  Sufficiency is the measure of quantity of audit evidence i.e. the amount of evidence obtained must be enough that it can be used and considered by the auditor. Sufficient appropriate audit evidence is obtained by applying appropriate audit procedures keeping the risk assessment in consideration.

  What is sufficient evidence?

  Sufficient evidence is admitted evidence that has enough overall weight, in terms of relevance and credibility, to legally justify a particular conclusion.

  What is sufficient audit evidence?

  Sufficiency is the measure of the quantity of audit evidence. The quantity of audit evidence needed is affected by the following: As the risk increases, the amount of evidence that the auditor should obtain also increases. For example, ordinarily more evidence is needed to respond to significant risks.