The AICPA Chief Auditor will discuss revisions to one of the
core auditing standards; Audit Evidence (AU-C 500). The Audit Evidence standard
has been revised to make it more relevant and effective in today's business
environment. The revised standard provides the auditor with a robust
framework for evaluating the sufficiency and appropriateness of information to
be used for audit evidence by recognizing (1) the vast increase in
sources of information available to auditors, (2) the use of emerging
technology by management and auditors, and (3) the increasing need to exercise professional
skepticism when evaluating audit evidence.
Obtain an understanding of the revised audit evidence standard and how it will impact practice.
Obtain an understanding of the impact of emerging technology and sources of information on the evaluation of audit evidence.