Scope of application
1. This Auditing Standard specifies and guides the responsibility of auditors and auditing firms (hereinafter referred to as "auditors") in using external confirmation procedures to obtain audit evidence as required by the Vietnamese Standards on Auditing 330 and the Vietnam Standard on Auditing 500. Complaints and disputes are not regulated and guided in this Standard, but are regulated and guided in Vietnamese Standards on Auditing 501.
External confirmation procedure to obtain audit evidence
2. Subject to paragraph A5 of the Vietnamese Standard on Auditing 500, the reliability of the audit evidence is influenced by the origin and content of the audit evidence and depends on the specific circumstances the auditor has obtained. get that evidence. The Vietnamese Standard on Auditing 31 also provides guidance on some of the following principles for evaluating the reliability of audit evidence:
(1) The reliability of audit evidence increases when audit evidence is obtained from independent sources outside the entity;
(2) Audit evidence obtained directly by the auditor is more reliable than audit evidence obtained indirectly or by inference;
(3) Written audit evidence, which may be in paper, electronic media, or otherwise, is more reliable than verbal evidence.
Therefore, depending on the specific circumstances of the audit, audit evidence in the form of external confirmation that the auditor obtained directly from the confirming parties may be more reliable than the evidence. are created internally within the entity being audited. The purpose of this Auditing Standard is to assist the auditor in designing and implementing external confirmation procedures to obtain appropriate and reliable audit evidence.
See full text Auditing Standard No. 505
