Audit evidence
Financial Dictionary — Auditing
Definition
Information used by the auditor to reach conclusions on which the audit opinion is based.
Detailed Explanation
Audit evidence consists of all information used by the auditor to support conclusions and form an audit opinion.
Common Uses
- Used in audit planning to understand risks and design procedures.
- Used during testing (controls/substantive) and documentation of audit evidence and conclusions.
- Used during testing (controls/substantive) and documentation of audit evidence and conclusions.
Practical Example
- Example: The auditor references **Audit evidence** when designing procedures and documenting conclusions in the audit file.
Why This Term Matters
- Why it matters: Supports high-quality, defensible audit conclusions and helps detect material misstatements and control weaknesses.