3. Reliable information is
A. Supportive of the engagement observations and consistent with the engagement objectives.
B. Helpful in assisting the organization in meeting prescribed goals.
C. Factual, adequate, and convincing so that a prudent person would reach the same conclusion as the internal auditor.
D. Competent and the best attainable through the use of appropriate engagement techniques.
Answer (D) is correct.
REQUIRED: The definition of reliable information.
DISCUSSION: Reliable information is the best attainable information through the use of appropriate engagement techniques (Inter. Std. 2310). An original document is the prime example of such information.
Answer (A) is incorrect. Relevant information supports engagement observations and is consistent with engagement objectives.
Answer (B) is incorrect. Useful information assists the organization in meeting goals.
Answer (C) is incorrect. Sufficient information is factual, adequate, and convincing to a prudent person.