Audit evidence is a fundamental concept in auditing. Audit evidence refers to evidential matters states that evidential matters consists of underlying accounting data and corroborating information available to the auditor. Corroborating information, such as evidence obtainable within the bookkeeping records, minutes of meetings, or evidence obtained from a basis autonomous of the entity might enhance the assertion the auditor obtains from audit evidence that is generated internally. There can also be corroborating evidence related to a definite basis, such as what makes an author consider an assured approach due to the evidence that was supplied by witnesses or objects.
Corroborating information are –
(a) Documents such as checks, invoices, contracts, and minutes of meetings,
(b) Confirmations and other written representation,
(c) Information from inquiry, observation, inspection, and examination,
(d) Other information obtained by the auditor.