SAS 110 Section 318 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained

This section establishes standards and provides guidance on determining
overall responses and designing and performing further audit procedures
to respond to the assessed risks of material misstatement1 at the financial
statement and relevant assertion levels in a financial statement audit, and on
evaluating the sufficiency and appropriateness of the audit evidence obtained.
In particular, this section provides guidance about implementing the third standard
of field work, as follows:

The auditor must obtain sufficient appropriate audit evidence by performing
audit procedures to afford a reasonable basis for an opinion regarding the financial
statements under audit.