Final answer:
A "systematic process" in auditing refers to a well-planned and organized approach for obtaining and evaluating evidence, similar to the scientific method. It focuses on consistency and reliability of evaluating evidence in a methodical, objective, and logical manner.
Step-by-step explanation:
When auditing is described as a "systematic process" of objectively obtaining and evaluating evidence regarding assertions, it means that there should be a well-planned and organized approach in the audit process. This methodology is akin to the scientific method, which is characterized by a structured process involving observation, experimentation, and validation of hypotheses through empirical evidence. It emphasizes an orderly progression of set steps designed over time to ensure that evaluations are objective, critical, skeptical, and logical.
A systematic process in auditing ensures that evidence is gathered through a consistent, rational, and methodical plan rather than a haphazard or unorganized manner. Hence, option C, which states "There should be a well-planned approach for obtaining and evaluating evidence," best represents the meaning of a "systematic process" in the context of an audit.
This systematic approach to auditing involves defining the audit objectives, designing the audit methodology, and executing the audit process in a way that results in credible findings and conclusions. The process also allows for the adaptation of the criteria used to assess evidence, ensuring a tailored and relevant examination for each unique audit situation.
While not every audit will gather the same evidence or assert the same level of importance to all assertions, as options A and D suggest, the systematic nature of the process ensures consistency and reliability in how evidence is evaluated, which reflects the statement in option B.