The following statements were made in a discussion of audit evidence between two auditors.Which statement is not valid concerning audit evidence?
A)'I am seldom convinced beyond all doubt with respect to all aspects of the reports being examined.'
B)'I would not undertake that procedure because at best the results would only be persuasive and I'm looking for convincing evidence.'
C)'I evaluate the degree of risk involved in deciding the kind of evidence I will gather.'
D)'I evaluate the usefulness of the evidence I can obtain against the cost of obtaining it.'

Question

Quizplus · Accepted Answer

This statement is not valid because auditors should consider all available evidence, both persuasive and convincing, in forming their opinion. The ultimate aim of audit evidence is to support the auditor's opinion, not necessarily to be completely convincing. The auditor should gather sufficient and appropriate evidence to reduce audit risk to an acceptably low level. Therefore, the statement "I'm looking for convincing evidence" is not a valid approach.

The Following Statements Were Made in a Discussion of Audit