Audit Evidence
Audit Evidence refers to the information collected during an audit to support findings and conclusions. It's like putting together pieces of a puzzle that prove whether a company's financial statements and processes are accurate and reliable. This can include documents, records, interviews, and other materials that auditors gather to verify that everything is being done correctly. When you see this term in resumes, it means the person has experience in collecting, analyzing, and documenting information that supports audit conclusions.
Examples in Resumes
Collected and analyzed Audit Evidence to support findings in financial statement audits
Managed Audit Evidence documentation for multiple client engagements
Led team in gathering Audit Evidence and Audit Documentation for Fortune 500 company audits
Typical job title: "Auditors"
Also try searching for:
Where to Find Auditors
Professional Associations
Online Communities
Job Resources
Example Interview Questions
Senior Level Questions
Q: How do you determine if audit evidence is sufficient and appropriate?
Expected Answer: A senior auditor should explain how they evaluate the quality and quantity of evidence, considering factors like source reliability, relevance to audit objectives, and risk levels. They should mention experience in making judgment calls about when enough evidence has been gathered.
Q: Describe a situation where you had to deal with difficult or conflicting audit evidence.
Expected Answer: Should demonstrate experience in resolving complex audit situations, including how they handled contradictory evidence, worked with clients to obtain additional information, and made professional judgments based on available facts.
Mid Level Questions
Q: What types of audit evidence do you typically collect and how do you document them?
Expected Answer: Should be able to discuss various forms of evidence like bank statements, invoices, contracts, and explain how they organize and document these in audit working papers with clear cross-references and explanations.
Q: How do you ensure the reliability of audit evidence from external sources?
Expected Answer: Should explain methods for verifying external information, such as confirmation requests, checking source credibility, and corroborating evidence from multiple sources.
Junior Level Questions
Q: What are the basic types of audit evidence?
Expected Answer: Should be able to list and explain basic types like physical examination, documentation, confirmation, and inquiry, with simple examples of each.
Q: How do you maintain a clear audit trail in your documentation?
Expected Answer: Should explain basic organization methods for audit files, including proper labeling, indexing, and cross-referencing of audit evidence.
Experience Level Indicators
Junior (0-2 years)
- Basic evidence collection and documentation
- Following audit programs
- Simple analytical procedures
- Basic working paper preparation
Mid (2-5 years)
- Evidence evaluation and analysis
- Complex documentation review
- Client communication
- Risk assessment procedures
Senior (5+ years)
- Advanced evidence evaluation
- Audit strategy development
- Team supervision
- Complex audit judgment calls
Red Flags to Watch For
- Unable to explain basic audit documentation procedures
- No experience with audit software or tools
- Poor attention to detail in work samples
- Lack of understanding about evidence reliability and sufficiency
Related Terms
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