Std on audit

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divyansh

divyansh (Querist)
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22 July 2013 explain sa10

divyansh

divyansh (Querist)
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22 July 2013 explain sa 10

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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25 July 2025 Sure! Here’s a concise explanation of **SA 10 (Statement on Auditing Standards 10)**:

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### SA 10: **“Audit Evidence”**

**Purpose:**
SA 10 deals with the auditor’s responsibility to obtain **sufficient and appropriate audit evidence** to support the audit opinion on the financial statements.

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### Key Points of SA 10:

1. **Audit Evidence** is the information collected by the auditor to form a basis for the audit opinion.

2. The auditor should plan and perform audit procedures to **obtain sufficient (quantity)** and **appropriate (quality)** evidence.

3. Types of audit evidence include:

* Physical examination
* Documentary evidence
* Oral representations from management
* Observation of processes or procedures
* Confirmations from third parties
* Analytical procedures

4. The **reliability** of audit evidence depends on its source and nature. For example, evidence obtained directly by the auditor is more reliable than that obtained indirectly.

5. The auditor uses **professional judgment** to decide which procedures to perform and when enough evidence has been gathered.

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### Summary:

SA 10 guides auditors to gather and evaluate evidence properly so they can give a well-supported opinion on financial statements.

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