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As noted previously, evidential matter consists of underlying accounting data and corroborating information. The auditing student should already be familiar with the basic components of underlying accounting data identified in journals, ledgers, worksheets, reconciliations, etc. in this section; we identify and elaborate upon eight principal types corroborating information as follows: * * Analytical evidence * Documentary evidence * Confirmations * Written representations * Mathematical evidence * Oral evidence * Physical evidence * Electronic evidence
For each type, consideration is given to its nature, reliability, and the categories of assertions to which it …ver más…
They use in other applications depends on the relative cost and reliability of alternative forms of evidence that may be available to the auditor.
Another special of documentary evidence, written representations are signed statements by responsible and knowledgeable individuals that bear on one or more management´s assertions. Written representations may be different from confirmations in two ways:
1. - they may originate either from within the client´s organization or from external sources
2. - the may contain subjective information or individual´s opinion about a matter than factual information.
The auditor is required by GAAS to obtain certain written representations from management in meeting the third standard of field work. These representations may reveal information that is not shown in the accounting records, such as the existence of contingencies that may require further investigation.
The auditor is not expected to possess the expertise of a lawyer in evaluating litigation pending against the client, a geologist in estimating the quantity of ore in a mine, or an appraiser in valuing a fine arts collection. The specialist´s written