Module 19 Audit Process: Substantive Testing 1 Flashcards
1
Q
Bank confirmation letter tests what assertions?
A
- All balance sheet assertions except presentation.
2
Q
Bank reconciliation tests what assertions?
A
- All balance sheet assertions excpet presentation
3
Q
Cash count tests what assertions
A
- Existance
- Accuracy, validation and authoristation
4
Q
Foreign currency verification tests what assertion
A
- AVA
5
Q
Debtors circularisation tests what assertions?
A
- Existence
- Rights and Obligations
- Classification
6
Q
Test allowancce for doubtful debt is what assertion?
A
- AVA
7
Q
Subsequent cash testing test for what assertions?
A
- AVA
- Exsitence
- Rights and Obligations
8
Q
Stock count follow up tests what assertions?
A
- Completeness
- Existence
9
Q
Cut-off testing stock tests what assertions?
A
- Completness
- Existence
10
Q
Cost vs. NRV testing tests what assertion?
A
- AVA
11
Q
Creditors circularisation tests what assetions?
A
All balance sheet assertions except presentation
12
Q
Supplier statement reconciliations tests what assertions
A
All balance sheet assertions except presentation
13
Q
Search for unrecorded liabilities tests what assertion?
A
- Completeness
