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Most of the independent auditor's work in forming his opinion on financial statements consists of obtaining and evaluating evidential matter concerning the assertions in such financial statements. The measure of the validity of such evidence for audit purposes lies in the judgment of the auditor in this respect audit evidence differs from legal evidence, which is circumscribed by rigid rules. Evidential matter varies substantially in its influence on the auditor as he develops his opinion with respect to financial statements under examination. The pertinence of the evidence, its objectivity, its timeliness, and the existence of other evidential matter corroborating the conclusions to which it leads all bear on its competence.
Auditing -- Standards -- United States; Evidence, Documentary
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Evidential matter; Statement on auditing standards, 031" (1980). Statements on Auditing Standards. 30.