May I know why evidence generated by auditor is considered to be less reliable than evidence from third party?
Thank you. 🙂
If the auditor inspects a non-current asset then that is very good evidence that it exists. If a third party writes a letter saying the asset is on hos premises that is not as good.
However, a customer certifying a balance at year end might be better than the auditor using any other method to gain evidence about the debt’s existence.
Thank you so much for the detailed explanation.
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