As part of a routine external audit, auditors will gather a multitude and variety of audit evidence to corroborate and document their

opinions and conclusions on the client's financial statements. Which of the statements below are correct with respect to audit

evidence? $($Several choices may be correct.$)$

A general rule of thumb for audit evidence is that as the risk of material misstatement increases, the amount of audit

evidence the auditor will typically collect will decrease.

Audit evidence may be considered as more appropriate when it is obtained from internal as opposed to external sources,

and is less susceptible to management bias.

Persuasive audit evidence pertains to the idea that the evidence the auditor has gathered is considered to be both

appropriate and sufficient for the auditor to reasonably draw a conclusion.

Auditors must gather sufficient audit evidence, meaning that the more evidence the auditor is able to gather, the less likely a

material misstatement will be missed. The quantity ultimately collected is a matter of professional judgment.