Final answer:
The method not classified among those used by auditors to gather evidence is 'test of authorization limits.' Standard audit evidence-gathering methods consist of substantive procedures, risk assessment procedures, and test of controls.
Step-by-step explanation:
Among the methods used by auditors to gather evidence, 'test of authorization limits' is not a standard classification. Auditors generally use the following methods:
- Substantive procedures - These are designed to detect material misstatements at the assertion level, focusing directly on monetary amounts or other data to check for accuracy and completeness.
- Risk assessment procedures - Aimed at understanding the entity and its environment, including its internal control, to assess the risks of material misstatement.
- Test of controls - As part of internal control assessment, this method tests the effectiveness of the design and operation of the controls in place.
The gathering of evidence is critical and requires auditors to exercise judgment. Auditors often use in-depth interviews, focus groups, and analysis of content sources when qualitative data is needed. When dealing with quantitative data, they may employ statistical analysis to inform their findings. The verification process can involve both objective and subjective assessments and interpretations by the auditor.