HKSA 500 - Audit Evidence

術語	定義
會計記錄	初始會計分錄的記錄和支持性記錄，如支票、電子資金轉賬記錄、發票、合同、總分類賬和明細分類賬、日記賬分錄、工作底稿和電子表格
適當性（審計證據）	審計證據質量的衡量標準；即其相關性和可靠性，為審計意見所依據的結論提供支持
審計證據	審計師用於得出審計意見所依據的結論的信息。包括財務報表所依據的會計記錄中包含的信息和從其他來源獲得的信息
外部信息來源	提供已被實體用於編制財務報表或已被審計師獲取作為審計證據的信息的外部個人或組織，且該信息適合廣泛用戶使用
管理層專家	在會計或審計以外的領域擁有專業知識的個人或組織，其工作被實體用於協助編制財務報表
充分性（審計證據）	審計證據數量的衡量標準。所需數量受審計師對重大錯誤陳述風險的評估以及此類審計證據的質量影響

情境	外部信息來源	管理層專家
房地產價格	關於地理區域的一般可用信息	針對實體特定情況的委託估值
精算數據	公開發布的通用死亡率表	針對特定養老金計劃的定制信息
證券估值	公開可用的價格/定價數據	使用模型為實體定制的估計
行業風險	適合廣泛用戶的公開信息	針對實體情況的委託信息
市場趨勢	提供給廣泛用戶的信息	針對實體特定趨勢的委託信息

概念	定義	關鍵點
充分性	審計證據數量的衡量標準	受影響因素：(1) 錯誤陳述風險評估（風險越高，所需證據越多）；(2) 證據質量（質量越高，所需數量可能越少）
適當性	審計證據質量的衡量標準（相關性和可靠性）	可靠性受來源、性質和具體情況影響

方面	描述
定義	檢查記錄或文件（內部或外部，紙質或電子）或實物資產檢查
可靠性	因性質、來源和生產控制的有效性而異
控制測試示例	檢查授權證據的記錄
限制	文件可能提供存在的證據，但不一定提供所有權或價值的證據；有形資產檢查提供存在的證據，但不一定提供權利/義務或估值的證據

方面	描述
定義	查看他人執行的流程或程序
示例	觀察存貨盤點，觀察控制的執行
限制	僅限於觀察發生的時間點；被觀察的行為可能影響流程/程序的執行方式

方面	描述
定義	審計師從第三方直接收到的書面回應作為審計證據
用途	處理與賬戶餘額相關的認定；確認協議或交易的條款；獲取關於某些條件不存在的證據（例如，不存在「私下協議」）
參考	HKSA 505 - 外部函證

方面	描述
定義	檢查文件或記錄的數學準確性
方法	可手動或電子執行

方面	描述
定義	審計師獨立執行最初作為實體內部控制一部分執行的程序或控制

方面	描述
定義	通過分析財務和非財務數據之間看似合理的關係來評估財務信息
包括	調查與其他相關信息不一致或與預期值存在重大差異的已識別波動或關係
參考	HKSA 520 - 分析性程序

方面	描述
定義	向了解情況的人員（財務和非財務，實體內外）尋求信息
形式	從正式書面詢問到非正式口頭詢問
重要性	在整個審計中廣泛使用；評估回應是組成部分
佐證	通常特別重要；對於管理層意圖，了解過去歷史、陳述的原因和採取特定行動的能力可能提供相關佐證
書面陳述	某些事項可能需要（HKSA 580）

概括	解釋
獨立來源	從實體外部的獨立來源獲取時可靠性提高
有效的內部控制	當相關控制有效時，內部生成證據的可靠性提高
直接獲取	審計師直接獲取的證據（如觀察）比間接或推斷獲取的證據（如詢問）更可靠
文件形式	文件形式的證據（紙質、電子或其他媒介）比口頭證據更可靠
原始文件	原始文件比複印件、傳真件或電子轉換文件更可靠

術語	定義
勝任能力	管理層專家的專業知識性質和水平
能力	管理層專家在當時情況下行使該勝任能力的能力（包括地理位置、時間和資源的可用性）
客觀性	偏見、利益衝突或他人影響可能對專業或商業判斷產生的可能影響

方法	描述	特點
選擇所有項目（100%檢查）	檢查整個總體	不太可能用於控制測試；更常見於細節測試。適用於：少量大額項目；重大風險且其他方式不足；重複計算使100%檢查具有成本效益
選擇特定項目	判斷性選擇特定項目	存在非抽樣風險。不能推斷至整個總體。包括：高價值或關鍵項目；超過一定金額的所有項目；為獲取信息而選擇的項目
審計抽樣	測試樣本以得出關於整個總體的結論	在HKSA 530中討論。能夠推斷至整個總體

Introduction

Scope of this HKSA (Paragraphs 1-2)

HKSA 500 explains what constitutes audit evidence in an audit of financial statements and deals with the auditor's responsibility to design and perform audit procedures to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base the auditor's opinion.

This HKSA is applicable to all audit evidence obtained during the course of the audit. Other HKSAs deal with specific aspects:

HKSA 315 (Revised 2019) – Identifying and Assessing the Risks of Material Misstatement

HKSA 570 (Revised) – Going Concern

HKSA 520 – Analytical Procedures

HKSA 200 – Overall Objectives of the Independent Auditor

HKSA 330 – The Auditor's Responses to Assessed Risks

Effective Date (Paragraph 3)

This HKSA is effective for audits of financial statements for periods beginning on or after 15 December 2009.

Objective (Paragraph 4)

The objective of the auditor is to design and perform audit procedures in such a way as to enable the auditor to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base the auditor's opinion.

Definitions (Paragraph 5)

Term	Definition
Accounting records	Records of initial accounting entries and supporting records such as checks, records of electronic fund transfers, invoices, contracts, general and subsidiary ledgers, journal entries, work sheets, and spreadsheets supporting cost allocations, computations, reconciliations and disclosures
Appropriateness (of audit evidence)	The measure of the quality of audit evidence; that is, its relevance and its reliability in providing support for the conclusions on which the auditor's opinion is based
Audit evidence	Information used by the auditor in arriving at the conclusions on which the auditor's opinion is based. Includes both information contained in the accounting records underlying the financial statements and information obtained from other sources
External information source	An external individual or organization that provides information that has been used by the entity in preparing the financial statements, or that has been obtained by the auditor as audit evidence, when such information is suitable for use by a broad range of users
Management's expert	An individual or organization possessing expertise in a field other than accounting or auditing, whose work in that field is used by the entity to assist the entity in preparing the financial statements
Sufficiency (of audit evidence)	The measure of the quantity of audit evidence. The quantity needed is affected by the auditor's assessment of the risks of material misstatement and also by the quality of such audit evidence

Requirements

1. Sufficient Appropriate Audit Evidence (Paragraph 6)

Requirement: The auditor shall design and perform audit procedures that are appropriate in the circumstances for the purpose of obtaining sufficient appropriate audit evidence.

2. Information to Be Used as Audit Evidence (Paragraphs 7-9)

Paragraph 7: When designing and performing audit procedures, the auditor shall consider the relevance and reliability of the information to be used as audit evidence, including information obtained from an external information source.

Paragraph 8: If information to be used as audit evidence has been prepared using the work of a management's expert, the auditor shall, to the extent necessary:

(a) Evaluate the competence, capabilities and objectivity of that expert

(b) Obtain an understanding of the work of that expert

(c) Evaluate the appropriateness of that expert's work as audit evidence for the relevant assertion

Paragraph 9: When using information produced by the entity, the auditor shall evaluate whether the information is sufficiently reliable for the auditor's purposes, including:

(a) Obtaining audit evidence about the accuracy and completeness of the information

(b) Evaluating whether the information is sufficiently precise and detailed for the auditor's purposes

3. Selecting Items for Testing to Obtain Audit Evidence (Paragraph 10)

Requirement: When designing tests of controls and tests of details, the auditor shall determine means of selecting items for testing that are effective in meeting the purpose of the audit procedure.

4. Inconsistency in, or Doubts over Reliability of, Audit Evidence (Paragraph 11)

If:

(a) Audit evidence obtained from one source is inconsistent with that obtained from another; OR

(b) The auditor has doubts over the reliability of information to be used as audit evidence

Requirement: The auditor shall determine what modifications or additions to audit procedures are necessary to resolve the matter, and shall consider the effect of the matter, if any, on other aspects of the audit.

5. Conformity and Compliance with International Standards on Auditing (Paragraph 12)

As of March 2023, this HKSA conforms with International Standard on Auditing (ISA) 500, Audit Evidence. Compliance with the requirements of this HKSA ensures compliance with ISA 500.

Application and Other Explanatory Material

External Information Source (Paragraphs A1-A4)

Examples of external information sources:

Pricing services

Governmental organizations

Central banks

Recognized stock exchanges

Examples of information obtained from external information sources:

Prices and pricing related data

Macro-economic data (historical and forecast unemployment rates, economic growth rates, census data)

Credit history data

Industry specific data (index of reclamation costs, viewership information)

Mortality tables for life insurance and pension sectors

Key Distinction (Paragraph A3): An external individual or organization cannot, in respect of any particular set of information, be both an external information source AND a management's expert, service organization, or auditor's expert.

Examples of Distinction (Paragraph A4):

Scenario	External Information Source	Management's Expert
Real estate prices	Information made generally available about a geographical region	Commissioned valuations specifically tailored for the entity
Actuarial data	Published mortality tables for general use	Tailored information for specific pension plans
Securities valuation	Publicly available prices/pricing data regarding private transactions	Customized estimates using models specifically for the entity
Industry risks	Published information suitable for broad range of users	Commissioned information tailored to entity's circumstances
Market trends	Information made available to broad range of users	Commissioned information addressing entity-specific trends

Sufficient Appropriate Audit Evidence (Paragraphs A5-A29)

Nature of Audit Evidence (Paragraph A5):

Audit evidence is cumulative in nature

Primarily obtained from audit procedures performed during the audit

May include information from previous audits (if evaluated for continuing relevance)

Includes information from firm's client acceptance/continuance procedures

Entity's accounting records and internal sources are important

May be prepared using work of management's expert or from external information source

Comprises information that supports and corroborates management's assertions AND information that contradicts such assertions

Absence of information (e.g., management's refusal to provide representation) also constitutes audit evidence

Audit Procedures (Paragraph A6):

Audit procedures to obtain audit evidence include:

Inspection

Observation

Confirmation

Recalculation

Reperformance

Analytical procedures

Inquiry

Important: Inquiry alone ordinarily does NOT provide sufficient audit evidence of the absence of a material misstatement at the assertion level, nor of the operating effectiveness of controls.

Relationship between Sufficiency and Appropriateness (Paragraphs A7-A9):

Concept	Definition	Key Points
Sufficiency	Measure of quantity of audit evidence	Affected by: (1) Assessment of risks of misstatement (higher risks = more evidence needed); (2) Quality of evidence (higher quality = less may be required)
Appropriateness	Measure of quality of audit evidence (relevance and reliability)	Reliability influenced by source, nature, and individual circumstances

Critical Rule: Obtaining more audit evidence may NOT compensate for its poor quality.

Sources of Audit Evidence (Paragraphs A11-A13):

Internal sources: Accounting records, minutes of meetings, management representations

External sources: Confirmations from third parties, external information sources, analysts' reports, benchmarking data

Generalization: More assurance is ordinarily obtained from consistent audit evidence obtained from different sources or of a different nature than from items of audit evidence considered individually.

Audit Procedures for Obtaining Audit Evidence (Paragraphs A14-A17):

Audit evidence is obtained by performing:

Risk assessment procedures (HKSA 315 (Revised 2019))

Further audit procedures (HKSA 330):

Tests of controls

Substantive procedures (tests of details and substantive analytical procedures)

Electronic Information Considerations:

Some accounting data may be available only in electronic form or only at certain points in time

Electronic information may not be retrievable after a specified period

Auditor may need to request retention of information or perform procedures when information is available

Detailed Audit Procedures (Paragraphs A18-A29)

1. Inspection (Paragraphs A18-A20)

Aspect	Description
Definition	Examining records or documents (internal or external, paper or electronic) or physical examination of an asset
Reliability	Varies depending on nature, source, and effectiveness of controls over production
Test of controls example	Inspection of records for evidence of authorization
Limitations	Documents may provide evidence of existence but NOT necessarily ownership or value; inspection of tangible assets provides evidence of existence but NOT necessarily rights/obligations or valuation

2. Observation (Paragraph A21)

Aspect	Description
Definition	Looking at a process or procedure being performed by others
Examples	Observation of inventory counting, observation of performance of controls
Limitations	Limited to the point in time at which observation takes place; act of being observed may affect how process/procedure is performed

3. External Confirmation (Paragraph A22)

Aspect	Description
Definition	Audit evidence obtained as a direct written response to the auditor from a third party
Uses	Addressing assertions associated with account balances; confirming terms of agreements or transactions; obtaining evidence about absence of certain conditions (e.g., absence of "side agreement")
Reference	HKSA 505 - External Confirmations

4. Recalculation (Paragraph A23)

Aspect	Description
Definition	Checking the mathematical accuracy of documents or records
Method	May be performed manually or electronically

5. Reperformance (Paragraph A24)

Aspect	Description
Definition	Auditor's independent execution of procedures or controls that were originally performed as part of the entity's internal control

6. Analytical Procedures (Paragraph A25)

Aspect	Description
Definition	Evaluations of financial information through analysis of plausible relationships among both financial and non-financial data
Includes	Investigation of identified fluctuations or relationships inconsistent with other relevant information or differing from expected values by a significant amount
Reference	HKSA 520 - Analytical Procedures

7. Inquiry (Paragraphs A26-A29)

Aspect	Description
Definition	Seeking information of knowledgeable persons (financial and non-financial, within or outside the entity)
Forms	Formal written inquiries to informal oral inquiries
Importance	Used extensively throughout the audit; evaluating responses is integral
Corroboration	Often of particular importance; for management intent, understanding past history, stated reasons, and ability to pursue course of action may provide relevant corroboration
Written representations	May be necessary for some matters (HKSA 580)

Relevance and Reliability of Information (Paragraphs A30-A44)

Relevance (Paragraphs A31-A34)

Definition: Relevance deals with the logical connection with, or bearing upon, the purpose of the audit procedure and, where appropriate, the assertion under consideration.

Direction of Testing Example:

Testing for overstatement in accounts payable → Testing recorded accounts payable may be relevant

Testing for understatement in accounts payable → Testing recorded accounts payable would NOT be relevant; testing subsequent disbursements, unpaid invoices, suppliers' statements, unmatched receiving reports may be relevant

Key Points:

A given set of audit procedures may provide evidence relevant to certain assertions but NOT others

Evidence regarding one assertion (e.g., existence of inventory) is NOT a substitute for evidence regarding another assertion (e.g., valuation)

Evidence from different sources or of different nature may be relevant to the same assertion

Reliability (Paragraphs A35-A38)

Generalizations about Reliability (subject to exceptions):

Generalization	Explanation
Independent sources	Reliability increased when obtained from independent sources outside the entity
Effective internal controls	Reliability of internally generated evidence increased when related controls are effective
Directly obtained	Evidence obtained directly by auditor (e.g., observation) is more reliable than evidence obtained indirectly or by inference (e.g., inquiry)
Documentary form	Documentary evidence (paper, electronic, or other medium) is more reliable than oral evidence
Original documents	Original documents are more reliable than photocopies, facsimiles, or electronically transformed documents

External Information Sources - Specific Considerations (Paragraphs A39-A44)

Factors for Considering Relevance and Reliability:

Nature and authority of the external information source

Ability to influence information through relationships between entity and source

Competence and reputation of the source

Past experience with reliability

Evidence of general market acceptance

Entity's controls over relevance and reliability

Whether source accumulates overall market information or engages directly in "setting" market transactions

Whether information is suitable for use in the manner being used

Alternative information that may contradict

Nature and extent of disclaimers or restrictive language

Information about methods used in preparing information

Appropriateness of assumptions and other data applied

Possible Further Procedures (Paragraph A42):

Comparing information from external source with information from alternative independent source

Obtaining understanding of controls management has in place

Performing procedures to obtain information from the external information source to understand its processes, techniques, and assumptions

Single Provider Situations (Paragraph A43):

When only one provider exists (e.g., central bank inflation rate), auditor's procedures are influenced by:

Nature and credibility of the source

Assessed risks of material misstatement

Degree to which use of information is relevant to reasons for assessed risk

Limitation on Scope (Paragraph A44):

If the auditor does not have a sufficient basis to consider relevance and reliability, there may be a limitation on scope evaluated in accordance with HKSA 705 (Revised).

Reliability of Information Produced by a Management's Expert (Paragraphs A45-A59)

When Paragraph 8 Applies (Paragraphs A45-A46)

Paragraph 8 applies when information to be used as audit evidence has been prepared using the work of a management's expert. Examples:

Actuarial calculations

Valuations

Engineering data

Distinction Example:

Management's expert: Individual/organization applies expertise in making an estimate which the entity uses in preparing financial statements

External information source: Individual/organization merely provides price data regarding private transactions which the entity uses in its own estimation methods

Factors Affecting Nature, Timing and Extent of Procedures (Paragraph A47)

Nature and complexity of the matter

Risks of material misstatement

Availability of alternative sources of audit evidence

Nature, scope and objectives of the expert's work

Whether expert is employed by entity or engaged

Extent of management's control or influence over expert

Whether expert is subject to technical performance standards

Nature and extent of controls within entity over expert's work

Auditor's knowledge and experience of the expert's field

Auditor's previous experience of that expert's work

Competence, Capabilities, and Objectivity (Paragraphs A48-A54)

Term	Definition
Competence	Nature and level of expertise of the management's expert
Capability	Ability of the management's expert to exercise that competence in the circumstances (includes geographic location, availability of time and resources)
Objectivity	Possible effects that bias, conflict of interest or influence of others may have on professional or business judgment

Sources of Information about Competence, Capabilities and Objectivity (Paragraph A49):

Personal experience with previous work

Discussions with the expert

Discussions with others familiar with the expert's work

Knowledge of qualifications, professional body membership, license to practice

Published papers or books

Auditor's expert (if any)

Threats to Objectivity (Paragraph A52):

Self-interest threats

Advocacy threats

Familiarity threats

Self-review threats

Intimidation threats

Key Distinction (Paragraph A53):

An expert employed by the entity cannot ordinarily be regarded as being more likely to be objective than other employees

Threats such as intimidation threats may be of less significance to an expert engaged by the entity

Obtaining an Understanding of the Work of the Management's Expert (Paragraphs A55-A58)

Aspects of the Expert's Field Relevant to Understanding (Paragraph A56):

Areas of specialty within the field

Professional or other standards, regulatory or legal requirements

Assumptions and methods used and whether generally accepted

Nature of internal and external data or information used

Engaged Expert (Paragraph A57):

There will ordinarily be an engagement letter or written agreement

Evaluating the agreement may assist in determining:

Nature, scope and objectives of work

Respective roles and responsibilities

Nature, timing and extent of communication

Employed Expert (Paragraph A58):

Less likely to have a written agreement

Inquiry of the expert and other members of management may be most appropriate

Evaluating the Appropriateness of the Management's Expert's Work (Paragraph A59)

Considerations include:

Relevance and reasonableness of findings or conclusions

Consistency with other audit evidence

Whether appropriately reflected in financial statements

If work involves significant assumptions and methods: relevance and reasonableness

If work involves significant use of source data: relevance, completeness, and accuracy

If work involves use of information from external information source: relevance and reliability

Information Produced by the Entity (Paragraphs A60-A62)

Requirements for Reliability (Paragraph A60):

Information produced by the entity needs to be:

Sufficiently complete

Sufficiently accurate

Example: Effectiveness of auditing revenue by applying standard prices to records of sales volume is affected by:

Accuracy of price information

Completeness and accuracy of sales volume data

Obtaining Evidence about Accuracy and Completeness (Paragraph A61):

May be performed concurrently with the actual audit procedure

May be obtained by testing controls over preparation and maintenance

In some situations, additional audit procedures may be needed

Precision and Detail (Paragraph A62):

When using entity-produced information for other audit purposes (e.g., performance measures for analytical procedures)

Appropriateness affected by whether information is sufficiently precise or detailed for auditor's purposes

Example: Performance measures used by management may not be precise enough to detect material misstatements

Selecting Items for Testing (Paragraphs A63-A67)

Three Means Available for Selecting Items:

Method	Description	Characteristics
Selecting all items (100% examination)	Examining the entire population	Unlikely for tests of controls; more common for tests of details. Appropriate when: small number of large value items; significant risk and other means insufficient; repetitive calculation makes 100% examination cost effective
Selecting specific items	Judgmental selection of specific items	Subject to non-sampling risk. Cannot be projected to entire population. Includes: high value or key items; all items over a certain amount; items to obtain information
Audit sampling	Testing a sample to draw conclusions about entire population	Discussed in HKSA 530. Enables projection to entire population

Specific Items Selection Examples (Paragraph A65):

High value or key items: Items that are suspicious, unusual, particularly risk-prone, or have history of error

All items over a certain amount: To verify a large proportion of total amount

Items to obtain information: To obtain information about nature of entity or transactions

Critical Rule: The results of audit procedures applied to items selected through specific item selection CANNOT be projected to the entire population; selective examination of specific items does NOT provide audit evidence concerning the remainder of the population.

Inconsistency in, or Doubts over Reliability of, Audit Evidence (Paragraph A68)

Examples of Inconsistency:

Responses to inquiries of management, internal auditors, and others are inconsistent

Responses to inquiries of those charged with governance made to corroborate management's responses are inconsistent with management's response

Documentation Requirement (HKSA 230, paragraph 11):

If the auditor identified information that is inconsistent with the auditor's final conclusion regarding a significant matter, there is a specific documentation requirement.

Key Takeaways Summary Table

Topic	Key Points
Objective	Design and perform audit procedures to obtain sufficient appropriate audit evidence
Sufficiency	Measure of quantity; affected by risk assessment and quality of evidence
Appropriateness	Measure of quality (relevance and reliability)
External Information Source	Provides information suitable for broad range of users; not management's expert, service organization, or auditor's expert
Management's Expert	Individual/organization with expertise in non-accounting/auditing field used by entity
Relevance	Logical connection with purpose of audit procedure and assertion under consideration
Reliability	Influenced by source, nature, and circumstances; generalizations provided
Audit Procedures	Inspection, observation, confirmation, recalculation, reperformance, analytical procedures, inquiry
Selecting Items	All items (100%), specific items, or audit sampling
Inconsistency	Requires modifications/additions to procedures; consider effect on other aspects

HKSA 500 - Audit Evidence