What Is the Most Reliable Form of Audit Evidence

question 10

Multiple Choice

What is the most reliable form of audit evidence?

• A)Evidence obtained through the auditor's direct personal knowledge.
• B)Evidence gathered directly from independent third parties.
• C)Evidence produced by independent third parties.
• D)Comprehensive analysis performed by the auditor.

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Definitions:

Professional Associations

Organizations founded to further a particular profession and the interests of individuals engaged in that profession.

Industry Experts

Individuals with extensive knowledge and experience in a specific industry, often seen as sources of valuable insights and advice.

Management Knowledge

Refers to the understanding and application of principles, techniques, and information that are necessary for effectively directing and controlling an organization.

Historical Company Staffing Trends

The analysis of how an organization's staffing policies and numbers have changed over time to understand past practices and predict future needs.