Category: Auditing
Substantive Procedures in Auditing Substantive procedures are audit procedures performed to detect material misstatements in the figures and presentation & disclosures reported in financial statements.They are designed to generate evidence about …
What are the audit procedures for accounts receivable? Substantive audit procedures for accounts receivable are as follow: audit procedures for accounts receivable Investigate any unexpected or unusual movement/differences between current and …
Systems flow chart provide a representation of accounting systems in the form of a diagram. For each type of transaction, they show the documents generated, the processes applied to the …
What is Audit risk? The risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Audit risk is a function of the risks of …
State the objectives which an auditor expects to achieve while applying analytical procedures at the end of an audit. Analytical Procedures Objectives The auditor should apply analytical procedures at or …