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Reliability of evidence

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Reliability of evidence

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by Kim Smith.
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  • September 9, 2021 at 3:23 pm #635135
    Anonymous11
    Member
    • Topics: 18
    • Replies: 15
    • ☆

    Is it a reliable evidence in relation to account opened in bank?
    1) account was only opened in the year and therefore was not subject to prior year audit procedures.

    September 9, 2021 at 4:59 pm #635159
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    Again, to be perfectly honest, it makes no sense to be talking about a lack of evidence in prior year for something that did not exist at that time. To ensure completeness of recording of bank account balances, the auditor would ask the bank to confirm (in the “bank report for audit purposes”) details of all accounts in the client’s name – including any opened (and similarly closed) during the year.

    September 9, 2021 at 6:44 pm #635179
    Anonymous11
    Member
    • Topics: 18
    • Replies: 15
    • ☆

    Will it reduce the reliability of evidences?

    September 9, 2021 at 7:08 pm #635183
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    Perhaps this is what you are asking? https://opentuition.com/topic/reliability-of-audit-evidence-2

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