Audit Evidence Is the Information That an Auditor Uses When

question 11

Short Answer

Audit evidence is the information that an auditor uses when arriving at their opinion on the truth and fairness of their client's financial report.Why is evidence so important to a financial report audit?

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Definitions:

Criterion

A standard, rule, or test by which something can be judged or measured.

Absolute Threshold

The minimum intensity of a stimulus that one can perceive or detect 50% of the time.

Perceptual Invariance

The ability to recognize objects as remaining the same under different conditions, such as changes in lighting, angle, or distance.

Action Potentials

The rapid rise and fall of electrical voltage across a cell's membrane, allowing neurons to transmit signals along their axons.