Which of the following statements about evidence is true?
a. Appropriate evidence supporting management's assertions should be conclusive rather than merely persuasive
b. Effective internal control contributes little to the reliability of the evidence created within the entity
c. The cost of obtaining evidence is not an important consideration to an auditor in deciding what evidence should be obtained
d. A client's accounting records cannot be considered sufficient appropriate audit evidence on which to base the auditor's opinion
Ans: d. A client's accounting records cannot be considered sufficient appropriate audit evidence on which to base the auditor's opinion
You might also like to view...
Acquiring property by capture is much less important today than it was in the early days of the
United States. Indicate whether the statement is true or false
Which is NOT true regarding differences between goods and services?
A) Tangible goods are generally produced and consumed simultaneously; services are not. B) Most goods are common to many customers; services are often unique to the final customer. C) Services tend to have a more inconsistent product definition than goods. D) Services tend to have higher customer interaction than goods. E) None, i.e., all of the above are true.