Meaning of Audit Evidence

Meaning of Audit Evidence

Any document, piece of information, voucher written or oral statement of any procedure which assists an auditor in forming his opinion in regard to the accuracy of data under audit.

The role of the auditor is that of an independent professional critic who investigates, analyses and evaluates the information underlying the statement as a means of reaching a conclusion as to their fairness. Before and auditor can express an opinion on financial statements, he must have sufficient evidence that

The items in the financial statements are supported by the balances in the ledger accounts.
The balances in the ledger account summarize correctly the numerous debit and credit entries.
These debit and credit entries in the accounts represent proper accounting interpretation of all the transaction entered into be the business.