What type of audit evidence is best?
Audit evidence is considered to be high quality if it is relevant and reliable. For audit evidence to be relevant, it has to pertain to the assertion or the object of the audit test. For audit evidence to be reliable, you have to consider the nature and source of the evidence.
There are a number of ways for an audit team to obtain evidence. The visual below illustrate the hierarchy of evidence, with direct and personal knowledge being the highest reliability and oral evidence being the lowest.
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