The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Assess options
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Statutory requirements are identified from assessment of terms of reference and client objectives and obligations Completed |
Evidence:
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Client activities and procedures are reviewed and analysed to establish familiarity with systems and guide the selection of appropriate audit methodologies Completed |
Evidence:
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Audit methodologies are developed to identify significant features of the audit and establish criteria for conducting the audit in accordance with professional auditing standards Completed |
Evidence:
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Identify information sources
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Audit data sources are identified from evaluation of organisation's information systems Completed |
Evidence:
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Audit lines of inquiry are created to support audit objectives and reduce audit risk to an acceptable level Completed |
Evidence:
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Determine audit strategies
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Knowledge of the client is established from the economy, the industry and the client's business Completed |
Evidence:
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Client's inherent risk is assessed through value chain risk analysis Completed |
Evidence:
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Internal control procedures are identified through discussion with the client and established professional standards Completed |
Evidence:
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Audit methodologies use established sampling and selection techniques in a manner consistent with the internal control procedures and substantive testing Completed |
Evidence:
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Schedule resources and timelines and monitor progress
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Timeframes are established and personnel allocated to functions and tasks based on audit lines of inquiry Completed |
Evidence:
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Resource use is reviewed regularly and intermittent reports developed and monitored Completed |
Evidence:
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Resource allocations and timeframes are adjusted through discussion and agreement with the client and in accordance with professional accounting standards Completed |
Evidence:
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Resourcing needs and the allocation of personnel, time and equipment are assessed and identified within the scope of the audit methodology Completed |
Evidence:
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Review data
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Significant strengths and weaknesses are identified in the controls and ranked in accordance to audit objectives Completed |
Evidence:
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Evidence on systems and controls under review is obtained and evaluated using established testing procedures and in accordance with criteria identified in audit methodology Completed |
Evidence:
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Management assertions are tested to achieve audit objectives Completed |
Evidence:
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Verify statements
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Sufficient appropriate audit evidence has been gathered as a basis for an opinion Completed |
Evidence:
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Financial statements are verified as materially misstated or not Completed |
Evidence:
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Determine reporting formats
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Operational functions, services and systems are identified and documented in accordance with standard formats Completed |
Evidence:
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Format is consistent with documentation requirements of the auditor and professional auditing standards Completed |
Evidence:
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Audit opinions, including recommendations, are formulated and provided to the client in an established and acceptable format Completed |
Evidence:
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