Auditors should evaluate the audit evidence and draw conclusions

After completing the audit procedures, the auditor will review the audit documentation in order to determine whether the subject matter has been sufficiently and appropriately audited. Before drawing conclusions, the auditor reconsiders the initial assessment of risk and materiality in the light of the evidence collected and determines whether additional audit procedures need to be performed.

The auditor should evaluate the audit evidence with a view to obtaining audit findings. When evaluating the audit evidence and assessing materiality of findings the auditor should take both quantitative and qualitative factors into consideration.

Based on the findings, the auditor should exercise professional judgement to reach a conclusion on the subject matter or subject matter information.

INTOSAI ref. Fundamental Principles of Public-Sector Auditing(pdf) (ISSAI-100).
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