You are auditor of a large manufacturing firm. A new trainee auditor has joined you...
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Accounting
You are auditor of a large manufacturing firm. A new trainee auditor has joined you in your auditing team. He would like to know that as ISA 500 Auditing standards require the auditor to gather sufficient appropriate evidence to ensure that the auditor has a reasonable basis for an opinion regarding the financial statements. What are the characteristics of (a) sufficient audit evidence and (b) appropriate audit evidence?
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