What is the purpose of audit fieldwork?

The purpose of audit fieldwork is fundamentally about gathering evidence that supports the conclusions drawn during the audit process. During fieldwork, auditors engage in various activities such as testing transactions, observing processes, and examining documents to obtain sufficient and appropriate evidence regarding the subject matter of the audit. This evidence is critical for forming an opinion on the financial statements and ensuring compliance with applicable standards.

While developing an audit strategy, training auditors, and communicating findings are all vital components of the audit process, these activities occur at different stages and do not encapsulate the essence of what fieldwork is intended for. Fieldwork is specifically focused on evidence collection, which directly influences the overall reliability and credibility of the audit outcomes.