Procedures for gathering audit evidences

Author:Emil CULDA

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Keywords:opinion, testing, techniques, review, observance, confirmation, restatement, review

Abstract:
The financial auditor gathers audit evidence in order to support in a reasonable manner the conclusions his/her opinion will base on, applying for this purpose different audit procedures which helps: \r\n- to obtain an understanding of the activities of the entity and of the environment where it develops its activities, including the internal control, in order to assess the risks of a material misrepresentations, by assessing and testing for this purpose the assertions (accounting regulations) applied by the management when preparing the financial statements („procedures for assessing the risks”).\r\n- to test / when necessary and/or when deciding to do this / the effectiveness of the internal control system in preventing/detecting/correcting the material misrepresentations at the level of assertions used by the management (tests of controls).\r\n-to detect the materials misrepresentations at the level of the assertions applied by the management (essence procedures).\r\n\r\nIn the article the basic techniques (procedures) an auditor may use related to the audit procedures are presented.

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