What is relevancy in Audit evidence

4 answers

Ravi Staff September 2, 2017

Evidence is considered relevant when it covers all required items.
it is relevant if it covers
Purpose / Risk — collecting evidence for existing list of creditors is not relevant if risk of missing creditors
Test of Controls — evidence is not relevant if it doesnt cover evidend of TOC
Substantive Procedures — not relevant if substantive test not covered
Assertions — not relevant if it doesnt cover all assertions
i am assuming that you have seen video on core audit process and SA 500

Ravi Staff September 2, 2017

please answer related doubt in same link given here in answer section

Audit Staff September 2, 2017

Please give  an example to relate all these points to that example to have more clarity

Ravi Staff September 6, 2017

hello shubham please refer notes and video and then we can discuss more, as i have given examples in video.. if still there is doubt do reply 🙂


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