Procedures for Obtaining Audit Evidence Flashcards
1
Q
How is audit evidence obtained?
A
By performing an appropriate mix of audit procedures
2
Q
What are the tests of controls>
A
Audit procedures designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level
3
Q
What are substantive procedures?
A
Audit procedures designed to detect material misstatements at the assertion level
4
Q
Substantive procedures comprise of (Details)
A
Tests of details (of classes of transactions, account balances, and disclosures)
5
Q
Substantive procedures comprise of (Analytical)
A
Substantive analytical procedures
