The document outlines various audit procedures used to gather audit evidence according to International Standards on Auditing 500. Key procedures include inspection, observation, external confirmation, recalculation, reperformance, analytical procedures, and inquiry. Each procedure is defined in terms of its purpose and application in the auditing process.

1. Types of audit procedures
for audit evidence
#AskKtpAud
#AskThkAcc
02/08/22
ISA 500 Audit Evidence

2. Inspection
Inspection involves examining records
or documents, whether internal or
external, in paper form, electronic form,
or other media, or a physical
examination of an asset.
#AskKtpAud
#AskThkAcc
02/08/22

3. Observation
Observation consists of looking at a
process or procedure being performed
by others
#AskKtpAud
#AskThkAcc
02/08/22

4. External Confirmation
An external confirmation represents
audit evidence obtained by the auditor
as a direct written response to the
auditor from a third party
#AskKtpAud
#AskThkAcc
02/08/22

5. Recalculation
Recalculation consists of checking the
mathematical accuracy of documents or
records.
#AskKtpAud
#AskThkAcc
02/08/22

6. Reperformance
Reperformance involves the auditor’s
independent execution of procedures or
controls that were originally performed
as part of the entity’s internal control.
#AskKtpAud
#AskThkAcc
02/08/22

7. Analytical Procedures
Analytical procedures consist of
evaluations of financial information
through analysis of plausible
relationships among both financial and
non-financial data.
#AskKtpAud
#AskThkAcc
02/08/22

8. Inquiry
Inquiry consists of seeking information
of knowledgeable persons, both
financial and non-financial, within the
entity or outside the entity.
#AskKtpAud
#AskThkAcc
02/08/22

9. International Standards On Auditing 500
Audit Evidence
#AskKtpAud
#AskThkAcc
02/08/22