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Executive Summary:

ISSAI 1500 – Audit Evidence


This Practice Note provides supplementary guidance on ISA 500 – Audit Evidence

ISSAI Category:

Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit

Target Group:

Public sector external auditors


ISA 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

Scope - Content:

Audit evidence comprises both information that supports and corroborates management's assertions and any information that contradicts such assertions.

When considering the sources of evidence public sector auditors may also consider evidence obtained in performance audits or other audit activities relevant to the entity. 

Author - Committee:

INTOSAI Professional Standards Committee – Financial Audit Subcommittee


Approved at XXth Congress of INTOSAI, Johannesburg 2010


Related Documents - Executive Summaries:
Related Documents - ISSAI Full Versions:
Related Documents - Others:

ISA 500 is applicable to auditors of public sector entities in their role as auditors of financial statements and to all the audit evidence obtained during the course of the audit.

Other ISAs deal with the audit evidence to be obtained in relation to a particular topic (for example ISA 570 – Going Concern), specific procedures to obtain audit evidence (for example ISA 520 – Analytical Procedures) and the evaluation of whether sufficient appropriate audit evidence has been obtained (for example ISA 200 – Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing) and ISA 330 – The Auditor's Responses to Assessed Risks).

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