Chapter 4

Collecting and Documenting Audit Evidence

In This Chapter

arrow Evaluating information from your client's management

arrow Considering the four concepts of audit evidence

arrow Putting your knowledge and experience to work

arrow Asking for appropriate evidence

arrow Gathering audit documentation

After finishing risk assessment, as explained in Chapter 3, you must understand how to work with your client's audit evidence and internal controls. This step needs to happen before you start the audit process. Understanding audit evidence and internal controls is particularly important if you're working with a new audit client. This chapter fills you in on working with audit evidence, and Chapter 5 is all about evaluating a company's internal controls.

remember.eps Don't ever forget that the financial statements you're auditing are the responsibility of your client's management. Your job is merely to express an opinion about ...

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