The quality review of audit evidence will assure that the audit findings are reliable and valid.

The assertion that the quality review of audit evidence will assure that the audit findings are reliable and valid is, in fact, false. While a quality review process is an essential component of the audit procedure that contributes to the overall reliability of findings, it does not inherently guarantee the reliability and validity of those findings.

Audit evidence must be evaluated against several criteria, including relevance and sufficiency. A quality review can help identify deficiencies or gaps in the evidence gathered or evaluated, but it is not an absolute assurance of reliability and validity on its own. Other factors, such as the competence of the auditor, the robustness of the audit methodology, and the inherent limitations of auditing practices, also play crucial roles in determining the overall reliability and validity of audit findings.

Furthermore, aspects like documentation and management approval might be factors affecting the quality of audit evidence but are not definitive determinants of reliability and validity by themselves. Thus, the statement regarding the assurance of reliability and validity through quality review is not entirely accurate, leading to the conclusion that it is false.