Final answer:
The statement is false because the relevance of evidence in an audit is not solely determined by specific audit objectives, but also by other factors such as risk assessment and materiality.
Step-by-step explanation:
The statement in question is false. While auditing, the relevance of evidence is not limited only to specific audit objectives. In the context of auditing, evidence must be both relevant and reliable to support the findings and conclusions of the audit. Evidence is used to determine the accuracy and completeness of the financial records and to assess the effectiveness of an entity's internal controls. Different types of evidence will be relevant for different audit objectives; however, the relevance of evidence can also depend on factors such as the timing and source of information.
Consequently, auditors must use their judgment to determine the relevance of evidence in the broader context of the audit, which can include considerations beyond specific audit objectives, such as risk assessment and materiality.