Problem
Audit evidence is all the information used by the auditor in arriving at the conclusions on which the audit opinion is based. It differs from legal evidence required in forensic accounting. In a civil lawsuit, evidence must be strong enough to incline a person to believe one side or the other. In a criminal case, evidence must establish proof of a crime beyond a reasonable doubt. Audit evidence provides only reasonable assurance.
WHAT ARE THE BASIS OF AUDIT EVIDENCE?