When making decisions about evidence for a given audit, the auditor's goal is to obtain a sufficient amount of timely, reliable evidence that is relevant to the information being verified, and to do so:
A) no matter what the cost involved in obtaining such evidence.
B) at any cost because the costs are billed to the client.
C) at the lowest possible cost.
D) only if the cost is reasonable.

Question

Quizplus · Accepted Answer

The auditor's goal is to obtain sufficient and reliable evidence that is relevant to the information being verified, but it should be done at the lowest possible cost. The auditor should consider the cost-benefit relationship when deciding on the type and amount of evidence to gather, and ensure that the benefits of obtaining such evidence outweigh the costs involved. It is important to balance the costs and benefits of obtaining evidence so that the audit remains effective and efficient.

When Making Decisions About Evidence for a Given Audit, the Auditor's