Audit Evidence and Professional Judgement should be sufficient and appropriate for the assessed risk and purpose of an audit procedure. Professional judgement is not an unsupported preference: it is reasoned, documented and open to challenge. Reasonable assurance is not certainty. The analytical problem Evidence purpose, relevance and reliability; risk response; professional scepticism; documentation. This resource…
Data analytics in Modern Auditing can improve risk assessment, population understanding and focused testing, but analytics does not remove the need to assess relevance, reliability, bias, completeness, exceptions and professional judgement. Technology supports, rather than replaces, reasonable assurance. The analytical problem Purpose and risk response; data provenance and completeness; exceptions and corroboration; documentation and human…