You read about how evidence is the heart of the audit
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You read about how evidence is the heart of the audit

Provide an original and substantive response to the questions posed in your assignment.

You read about how evidence is the heart of the audit. Auditors base their opinions on the quality of evidence to confirm what the client states to be true. If evidence is weak or incomplete, it is hard for auditors to gain assurance on the client’s claims. Suppose that a lot of your client’s paper documentation from early in the fiscal year is destroyed in a fire.

What measures would you take to gather evidence from that time?

Would you just give them a “pass” from that time period and audit the rest of the year instead? Why or why not?

Would you ask the client to reproduce the data in some way?

Hint
Accounts & FinanceAudit risk is the risk which the financial statements are materially incorrect. These are when the audit opinion states that the financial reports are free of any of the material misstatements. Also, the audit risk could carry the legal liability for a certified public accountancy (CPA) firm which performs the audit work....

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