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I’ve gone through some of the answers for these questions and they seem very similar to me?
What would be the difference in the type of answers between these two questions?
“Matters and evidence” – matters are the things you have to think about that will affect the evidence you need to form a conclusion – for example, materiality, risk of misstatements, accounting treatment (that adopted/proposed and what it should be in accordance with IFRS). Evidence is then the what it is (information) that you need to form a conclusion – this will usually be something that is document – for example, a legal agreement (confirming what?), minutes of a board meaning (confirming what?), sales/purchase invoices (confirming what?). The answer points do not need to say how the evidence will be gathered.
“Audit procedures” are the what it is that you will DO – i.e. actions – for example “attend a physical inventory count”, “perform analytical procedures”, “enquire (what?) and confirm “how?”
So “Evidence” would be a part of “Audit Procedures” right? Eg: Review the lease agreement to ensure that the lease term has been determined correctly in line
with IFRS 16.
The “lease agreement” is evidence – reviewing it is a procedure.
I’m sorry, I’m still confused.
In the Dec 2014 answer of Q.2, these are listed as part of Evidence:
“A review of the purchase documentation and a register of significant shareholders of Teapot Co to confirm the 20% non-controlling interest.”
“Review of depreciation calculations, and recalculation, to confirm that additional depreciation is being charged on the fair value uplift.”
“Review of board minutes for discussions relating to the acquisition, and for the relevant minute of board approval.”
So aren’t “Audit Procedures” and “Evidence” pretty much the same thing?
As your examples show you could delete “A review of” and you would still have audit evidence.