Types of Audit Evidence
Audit evidence which is cumulative in nature includes audit evidence obtained from audit procedures performed during the course of the audit and may include audit evidence obtained from other sources such as previous audits and a firm’s quality control procedures for client acceptance and continuance.
Types of Audit Evidence: Audit evidence can be classified into different categories such as-
Analytical evidence: Analytical evidence involves the compares current periods data.
Documentary evidence: Documentation is the auditor’s examination of the client’s documents that is should be included in the financial statements.
Written presentation: Written presentations are the responses to inquiries by the auditor by the responsible person inside’ outside the organization.
Mathematical evidence: Mathematical evidence result from recalculations by the auditor and comparisons of those result with the calculation provided by the organization.
Oral evidence: Oral evidence originates from the oral enquires made the auditor to the official and key employees of the organization.
Physical evidence: Physical evidence is the inspection or count by the auditor of tangible assets.
Visual and electronic evidence: The video copies of several interviews may be recorded as visual evidence. Electronic evidence is any evidence is any information produce or maintain by electronic means.
