In the audit REVIEW phase, auditors search for evidence that is what three qualities?

In the audit REVIEW phase, auditors search for evidence that is what three qualities?

• A. Timely, comprehensive, and verifiable
• B. Sufficient, competent, and relevant
• C. Adequate, reliable, and complete
• D. Accurate, precise, and current

Answer: (B)

In the audit REVIEW phase, the evidence you seek must have three qualities: sufficient, competent, and relevant. Sufficient means there is enough evidence to support conclusions about the area being reviewed; you aren’t basing judgments on a small or unrepresentative slice of data. The amount needed depends on factors like risk and materiality, but the goal is to have a basis that reduces the chance of an incorrect conclusion. Competent (or reliable) refers to the quality of the evidence. It should come from trustworthy sources and be obtained in a way that minimizes bias or error. The more dependable the source or method, the more weight the evidence carries. Relevant means the evidence directly pertains to the specific assertion or procedure being tested. It must address the objective at hand and contribute to answering the audit question. Together, these qualities ensure that the evidence is enough to form a reasonable conclusion, is trustworthy, and actually informs the particular issue under review. The other descriptions mix in attributes like timeliness, completeness, or precision, which don’t capture the essential combination of quantity, trustworthiness, and applicability needed to support audit conclusions.

In the audit REVIEW phase, the evidence you seek must have three qualities: sufficient, competent, and relevant.

Sufficient means there is enough evidence to support conclusions about the area being reviewed; you aren’t basing judgments on a small or unrepresentative slice of data. The amount needed depends on factors like risk and materiality, but the goal is to have a basis that reduces the chance of an incorrect conclusion.

Competent (or reliable) refers to the quality of the evidence. It should come from trustworthy sources and be obtained in a way that minimizes bias or error. The more dependable the source or method, the more weight the evidence carries.

Relevant means the evidence directly pertains to the specific assertion or procedure being tested. It must address the objective at hand and contribute to answering the audit question.

Together, these qualities ensure that the evidence is enough to form a reasonable conclusion, is trustworthy, and actually informs the particular issue under review. The other descriptions mix in attributes like timeliness, completeness, or precision, which don’t capture the essential combination of quantity, trustworthiness, and applicability needed to support audit conclusions.