In audit evidence, what does sufficiency primarily refer to?
Correct answer: B. The quantity of audit evidence obtained
- A. The legal ownership of audit evidence
- B. The quantity of audit evidence obtained
- C. The source location of audit evidence
- D. The wording used in audit evidence
Explanation
Sufficiency is the measure of the quantity of audit evidence needed to support an audit conclusion. Appropriateness concerns the evidence’s relevance and reliability, so it is not the same as sufficiency.
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About Auditing
Auditing examines accounting records and financial statements to determine whether they present a reliable and fairly stated position. The subject covers audit objectives, internal controls, audit evidence, materiality, vouching, verification, working papers, auditor independence, audit reports, and the distinction between an audit and accounting or investigation.
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