What is Auditing Evidence?

[Samuel]

What exactly is auditing evidence, and how do auditors gather and evaluate it during an audit? I know it’s used to support their opinion on financial statements, but I’d like to understand what types of evidence are considered reliable or sufficient in professional auditing practice.

 

[Gsusangrey]

All of the data that an auditor collects in order to draw conclusions is known as audit evidence. It comprises the accounting records as well as any additional information (such as documents or confirmations) that either validates or refutes the statements' assertions.

 

[BlissCore]

Auditing evidence refers to the information auditors collect to support their opinion on financial statements. It includes documents, records, and observations that confirm whether the statements are accurate and comply with accounting standards. Auditors gather this evidence through inspection, observation, inquiries, confirmations, and analytical procedures. Reliable evidence usually comes from independent sources, like bank confirmations or third-party documents, and sufficiency depends on the quantity and quality needed to form a sound judgment.

 

[Jarwish]

Auditing evidence is the information auditors collect to evaluate and verify an organization’s financial statements. It includes documents, records, observations, and confirmations that support the accuracy and fairness of financial reporting, helping auditors form an informed opinion on whether the statements comply with accounting standards and present a true view.

 

[Mayank]

Auditing evidence refers to the information and documents auditors collect to verify the accuracy and fairness of financial statements. It includes records, statements, and confirmations used to support audit conclusions and ensure compliance with accounting standards.