PO19 – Collect and evaluate evidence for an audit or assurance engagement
Carry out an internal or external audit or an assurance engagement, from collecting evidence, through to forming an opinion. You demonstrate professional scepticism and make sure judgements are based on sufficient valid evidence.
Performance objective elements
The five elements of each performance objective describe the tasks, skills and behaviours that trainees must demonstrate in order to achieve the objective.
a. Coordinate the engagement, including managing people and time to make sure you get results.
b. Carry out and document compliance, substantive tests and other audit or assurance work using appropriate technology to assist the audit and assurance procedures.
c. Evaluate evidence, demonstrate professional scepticism, investigatge areas of concern and make sure documentation is complete and all significant isssues are highlighted.
d. Assess that the audit evidence is sufficient and appropriate.
e. Identify the main factors to be considered before forming an opinion and reaching judgements.
Audit and Assurance
D. Performs effective audit and assurance engagements.
F. Guides efficient and effective operations.
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