(a) Factors for Determining Sufficiency of Audit Evidence

1. The quality of the evidence, including its source and reliability.
2. The gravity of the risk that financial statements might not present a true and fair view.
3. The materiality level of the item being examined.
4. The strength of the internal controls in the client’s accounting systems.
5. The sampling method used by the auditor, which affects the required audit sample size.

(b) Principles for Assessing Reliability of Audit Evidence

1. Evidence from independent external sources is more reliable than internally generated evidence.
2. Internally generated evidence is more reliable if related controls are effective.
3. Evidence obtained directly by the auditor is more reliable than that obtained indirectly.
4. Documentary evidence (such as electronic or physical records) is more reliable than oral representations.
5. Original documents are more reliable than copies or other reproduced forms.

(c) Principles for Assessing Relevance of Audit Evidence

1. Logical connection to the purpose of the audit procedure and the assertion.
2. Relevance to specific assertions; for example, receivable collection documents may relate to existence but not cut-off.
3. Tests of controls evaluate control effectiveness at the assertion level, relevant for identifying conditions indicating control performance.
4. Substantive procedures are designed to detect material misstatements at the assertion level.

Explanation: The above principles guide auditors in evaluating the sufficiency, reliability, and relevance of audit evidence, ensuring it adequately supports the audit opinion.