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ISA 500: Audit evidence

The auditing standard ISA 500 explains what constitutes audit evidence in audits of financial statements and looks at the auditor's responsibilities in obtaining appropriate audit evidence. Find articles, books and online resources providing quick links to the standard, guidance and recent developments.

Full standard

ISA (UK) 500: Audit evidence (Updated January 2020)
As issued by the Financial Reporting Council (FRC) in January 2020.

The International Standards on Auditing (UK and Ireland) issued by the FRC are based on the International Standards on Auditing issued by the International Auditing and Assurance Standards Board (IAASB) and published by the International Federation of Accountants (IFAC).

2020 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
Latest edition of the handbook published by the IAASB.

FRC guidance

Feedback Statement and Impact Assessment: Withdrawal of Practice Note 16
Withdrawal of Practice Note 16 issued by the FRC and updated in February 2011.

Further ICAEW support

Audit resources
Information and guidance on completing all stages of an audit, as well as making the decision around whether or not an audit is required. There are links to technical help, webinars, publications and events as well as audit representations.

Audit and Assurance Faculty
The faculty gives members a comprehensive package of essential guidance and technical advice. It produces a monthly newsletter with the latest thinking, technical bulletins and regulatory updates, and member-only events.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Audit and assurance essentials for professional accountancy exams
Katharine Bagshaw (Wiley, 2013)
This primer on the key concepts of professional auditing and assurance syllabuses has a section on audit evidence. It outlines the definition of audit evidence, risk assessment procedures, what counts as sufficient and appropriate evidence and the types of audit procedure.

Frequently asked questions in ISAs
Steven Collings (Wiley, 2014)
This book addresses key areas where audit firms are failing which have been flagged up by audit regulators. It includes a chapter on what constitutes audit evidence and how it is gathered, with examples. The chapter covers the procedures generating audit evidence, the factors that determine whether evidence is sufficient and appropriate and the issue of recurring audits.

Articles and books in the Library collection

Selected books

Implementing GAAS: A practical guide to auditing and reporting
Ian Connon (Croner-i)
Implementing GAAS (Generally Accepted Auditing Standards) provides guidance on current UK auditing standards and the supporting Practice Notes, Bulletins and other material. The annually updated title contains examples, illustrations of recent reports and discussion of problem areas, including a chapter on audit evidence with example letters and forms.

The audit process: Principles, practice and cases
Iain Gray and Stuart Manson (Cengage Learning, 2011)
An introduction to the principles and practice of auditing, with a chapter explaining the search for audit evidence. It looks at the reliability of evidence and grades of audit evidence as well as the evidential requirements at each stage of the audit process.

Find more resources

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