- 1 Marks
AA – L2 – SA – Q2.6 – Audit Evidence Reliability
Question
Which of the following is normally the most reliable source of audit evidence?
A Internal audit
B Suppliers’ statements
C Board minutes
D Analytical review
Answer
B
Explanation:
Suppliers’ statements (B) are external, third-party evidence, typically the most reliable due to independence. Board minutes (C) and internal audit (A) are internal, less reliable due to potential bias. Analytical review (D) is a procedure, not a source. Thus, B is correct.
- Tags: Analytical Review, Audit Evidence, Board Minutes, ICAG, Reliability
- Level: Level 2
- Topic: Audit and Assurance Evidence
- Uploader: Salamat Hamid