Ch 4 · Audit Evidence & Documentation

5 concept points · 2 formulas · 4 exam-critical points.

📘 Core concepts

• 1SA 500 — Sufficient appropriate audit evidence.
• 2Procedures: inspection, observation, external confirmation, recalculation, reperformance, analytical, inquiry.
• 3External confirmation (SA 505) more reliable than internal; written more than oral.
• 4Sampling (SA 530): statistical vs non-statistical; tolerable misstatement, sample size factors.
• 5Documentation (SA 230) — sufficient + appropriate; assembly within 60 days of audit report.