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Evidence = Support. Auditors collect information Evidence should be sufficient, competent, relevant & useful Methodology determined in advance Supervision should be employed Documentation should be included in working papers. Attributes of Evidence. Sufficient: convincing
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Evidence = Support • Auditors collect information • Evidence should be sufficient, competent, relevant & useful • Methodology determined in advance • Supervision should be employed • Documentation should be included in working papers Operational Auditing--Fall 2001
Attributes of Evidence • Sufficient: convincing • Competent: reliable • Relevant: consistent with objectives • Useful: goal oriented Operational Auditing--Fall 2001
Types of Evidence Based on Procedure • Interviews • Recomputation • Detailed testing • Observation • Scanning • Statistical sampling • Confirmation • Analytical procedures Operational Auditing--Fall 2001
W/P Documentation-Introduction • Efficient • Able to stand-alone • Clear • Relevant Operational Auditing--Fall 2001
W/P Model • Audit program summarizes the work • Documentation and evidence supports the conclusions Operational Auditing--Fall 2001
Supervision • Audit staff instruction • Individual work review • Working paper review • Report review • Audit objective assurance Operational Auditing--Fall 2001
Expanded Testing Purposes • Detailed review • Compliance testing • System or performance evaluation • Exh. 9-1 (p. 365): examples Operational Auditing--Fall 2001
Expanded Testing Criteria • Directly related to the risk examined • Efficient in design • Feasible with respect to the auditors’ abilities Operational Auditing--Fall 2001
