Mastering the Art of Assessing Audit Evidence: Best Practices and Strategies

Assessing audit evidence is a crucial aspect of the auditing process that involves evaluating the information obtained during an audit to determine its reliability and relevance to the audit objectives. 

The quality of audit evidence is influenced by factors such as its source, nature, and reliability. By effectively assessing audit evidence, auditors can provide reasonable assurance to stakeholders that the financial statements are free from material misstatement and comply with relevant accounting standards and regulations.

Audit evidence is information that auditors gather through observing processes, interviewing people, examining records, and researching and benchmarking information. It should provide a factual basis for audit opinions and conclusions relative to the audit objectives.

This webinar will help you to understand what to look at and how much to assess to achieve the audit objectives.

Every internal audit engagement aims to assess the adequacy and effectiveness of key management controls in the area under review. In order to do that, the auditor has to decide what evidence to review and how much is needed to achieve the audit objectives. 

This Auditing Webinar will discuss the various types of evidence to be reviewed.

Attending the webinar on Assessing Audit Evidence can benefit you in several ways.
Here are some reasons why you should consider attending:

• Enhance your audit skills: The webinar will help you better understand the evidence-gathering process and improve your skills in assessing audit evidence.
• Stay updated with the audit industry standards: The webinar will cover the latest industry standards and best practices for assessing audit evidence, ensuring that you are up-to-date with the latest developments in the field.
• Improve the quality of your audits: By learning how to assess audit evidence more effectively, you can improve the quality of your audits and provide better assurance to stakeholders.

Overall, attending this webinar can help you enhance your audit skills, improve the quality of your audits, and stay updated with the latest industry standards. The webinar will help to boost your professional development and advance your career.

• To discuss the key audit standards for evidence.
• To analyze the process for assessing audit evidence.
• To inspect the four types of evidence.
• To discuss the characteristics of audit evidence.
• To analyze the examples of each audit type.

Some key areas that will be covered in the webinar on Assessing Audit Evidence:

• Understanding the importance of assessing audit evidence in the audit process
• Understanding the Process of Assessing Audit Evidence
• Reviewing key standards relative to audit evidence
• Reviewing the four types of evidence
• Reviewing statistical vs Judgmental sampling
• Reviewing data mining 
• Evaluating the quality of the audit evidence obtained and determining its relevance, sufficiency, reliability, and relevancy to the audit objectives
• Identifying and addressing potential limitations or biases in the audit evidence
• Applying industry standards and best practices for assessing audit evidence
• Reviewing examples to illustrate the practical application of assessing audit evidence
• Q&A session

• CPAs, CIAs, IAPs, QIALs, CMAs
• Auditors, both Internal and External 
• Audit Supervisors, Audit Managers
• Staff Auditors, Government Auditors, Compliance Auditors
• Accounting and Finance Professionals
• Compliance Officers and Risk Managers
• Internal Control Specialists
• Public Accountants, Accounting Analysts
• Business Analysts, Quality Control Specialists
• Financial Analysts and Consultants
• Business Owners and Executives
• Financial Controllers
• CFOs and other senior finance executives
• Accounting Students