Tools and Reflections

What does the sufficiency of audit evidence primarily refer to?
A. The source of the evidence
B. The quantity of the evidence
C. The relevance of the evidence
D. The accuracy of the evidence

When is more audit evidence generally required?
A. When the internal control environment is strong
B. When audit evidence is persuasive
C. When inherent risk is low
D. When audit risk is high

Which of the following is most likely to increase the sufficiency of audit evidence?
A. Using third-party confirmations
B. Increasing the size of the sample
C. Reviewing past audit reports
D. Performing a walkthrough

What is the auditor's goal regarding sufficiency of evidence?
A. To ensure 100% verification of data
B. To reduce the time of the audit
C. To obtain enough evidence to support conclusions
D. To confirm all transactions manually

A small sample size may result in audit evidence that is:
A. Sufficient
B. Conclusive
C. Insufficient
D. Redundant

Sufficiency of audit evidence is a function of:
A. Relevance and timeliness
B. Quantity and quality
C. Independence and objectivity
D. Budget and schedule

If the control risk is assessed as high, how should the sufficiency of evidence be adjusted?
A. No change
B. Reduced
C. Eliminated
D. Increased

An auditor decides to expand testing due to identified control weaknesses. This decision relates to:
A. Relevancy
B. Timeliness
C. Sufficiency
D. Reliability

Which technique would help an auditor assess sufficiency?
A. Peer benchmarking
B. Data triangulation
C. Stratified random sampling
D. Control self-assessment

Evidence is considered sufficient when it:
A. Is obtained from independent parties
B. Fully supports the audit findings
C. Meets quantity requirements for a reasonable conclusion
D. Comes from internal sources