Substantive audit procedures pdf. txt) or view presentation slides online.

Substantive audit procedures pdf A1 For purposes of this standard, the terms listed below are defined as follows:. 11 ((wwhhoollee sseeccttiioonn)) qq6688,, qq6699,, qq7766cc lloo 22 iinnttaannggiibbllee nnoonn--ccuurrrreenntt aasssseettss 99. As a substantive test to obtain audit evidence about particular asser-tions related to account balances or classes of transactions c. In the test of controls, audit procedures are performed to obtain evidence about the effectiveness of the client’s internal control. Jul 26, 2022 · ReSA – T HE R EVIEW S CHOOL OF A CCOUNTANCY FURTHER AUDIT PROCEDURES – SUBSTANTIVE TESTING Page 2 of 6 0915-2303213 www. substantive analytical procedures is to obtain assurance, in combination with other audit testing (such as tests of controls and substantive tests of details), with respect to financial statement assertions for one or more audit areas. 01 This section establishes requirements regarding the use of substantive analytical procedures in an audit. As an auditor, it's essential for you to have evidence of every monetary transaction to draw conclusions about a financial status. Substantive Audit Procedures Sales and Accounts Receivable Balances Existence or occurrence: Sales and accounts receivable are for shipments made to customers 1. 21 of this standard describe specific audit procedures. The topics that we are going to cover are set out as follows: Topic 1: Audit evidence Topic 2: Substantive procedures: the concepts Topic 3: Formulating the substantive procedures for the cycles Topic 4: Evaluating, concluding and reporting May 9, 2024 · This is why substantive audit procedures are so important. The particular substan-tive procedures to be used in each circumstance depend on the auditor's risk assessments and tests of controls. txt) or read online for free. On the other hand, audit procedures in the substantive procedures are performed to gather evidence about various audit assertions of different classes of transactions and account balances. In short, substantive audit procedures include auditing procedures used by auditors to support their opinion and Nov 4, 2020 · Synthesize information regarding significant financial statement accounts, management assertions, and audit procedures. (Ref: par. Guidance on the timing of audit procedures is included in section 318, Performing Audit Procedures in Response to Assessed Risks and Evaluat-ing the Audit Evidence Obtained. When performing substantive tests of Substantive Analytical Procedures (Ref: Para. Match accounts at risk of material misstatement with relevant assertions. A SA 520 6 A9. Apr 23, 2020 · Session 10 (b) 4 Valuation Perform a reconciliation of the accounts receivables ’ ledger control account to the sum of debtor ledger balances at the year-end, obtaining explanations for any differences At the final audit, obtain the most recent breakdown of trade accounts receivables and establish which year-end balances remain uncollected For these unpaid items, review customer ered stage 1 and 2 in previous auditing modules. pdf from ACCY 504 at University of Illinois, Urbana Champaign. the results of an audit procedure are inconsistent with the results of another audit procedure. Substantive Audit Procedures - Handout 1- Confirmation 234567- Analytical This document outlines an auditing theory course syllabus covering further audit procedures, also known as substantive procedures. The decision about which audit procedures to perform, including whether to use substantive analytical procedures, is based on the auditor’s Substantive Audit Procedures _ Types _ Examples - Accountinguide - Free download as PDF File (. . The determination of the suitability of particular substantive analytical procedures is influenced by the nature of the assertion and the auditor’s other auditing procedures b. Developing substantive audit procedures requires a thorough understanding of the entity’s business environment, including its industry, operations, and economic conditions. substantive procedures for each material class of transactions, account balance, and disclosure. To spot and assess risks of big errors in financial statements, auditors use various methods, including analytical procedures. 22. Chapter 1 – Auditing Cash 5 The assessment of inherent risk and material misstatement by the au-ditor determines the extent of the substantive procedures related to cash. audit evidence obtained from one source is inconsistent with that obtained from another source. The two types are: 1) substantive tests of details and 2) substantive analytical procedures. Substantive procedures examine: 1 Further audit procedures include tests of the operating effectiveness of controls and substan-tive procedures whose nature, timing, and extent are responsive to the assessed risks of material misstatement. More time is spent here. Chapter learning objectives. pptx), PDF File (. Every procedure must state: • the assertion tested • the audit procedure This chapter considers the use of other substantive procedures (OSPs) as audit procedures designed to detect material misstatement at the assertion level. , in planning the audit, to assist Audit by pointing areas requiring examination as substantive tests, in areas where analytical procedures can be used to obtain evidential matter regarding the accuracy of figures in reporting stage, to assist in the The requirements include calculating sample size, identifying the management assertions related to the revenue process transactions, describing the substantive procedures needed to test each management assertion, performing the substantive procedures to detect errors, identifying the accounts and financial statements affected by the errors substantive tests of transactions and substantive tests of balances; identify the financial report assertions associated with both tests of transactions and tests of balances and how the audit objective influences the audit procedures; explain the specific audit objectives and the common audit procedures traditionally used to achieve those Dec 15, 2021 · Substantive Analytical Procedures (Ref: Para. It is also important to be aware that there are two main types of substantive audit procedures that can be used individually or in tandem. If substantive procedures are performed at an interim date, the auditor shall cover the remaining period by performing: (a) substantive procedures, combined with tests of controls for the intervening period; or (b) if the auditor determines that it is sufficient, further substantive procedures only, Substantive procedures are audit activities that gather evidence of account balances and transactions. The auditor is also required to consider whether external confirmation procedures are to be performed as substantive audit procedures9. A42–A47) 19. It describes assessing control risk for account balances and transaction classes, and how the nature, timing, and extent of substantive procedures are — Section 300, Planning an Audit [AICPA, Professional Standards, AU-C sec. Handbook of Auditing Pronouncements-I. 15-. (Ref: Para. An audit procedure designed to evaluate the op-erating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level. One such procedure is vouching, where auditors examine supporting documents and evidence to verify recorded transactions’ occurrence, completeness, and accuracy. 5 As such, this concept is aicpa. Demonstrate how substantive audit tasks fit into a broader substantive testing plan. The decision about which audit procedures to perform, including whether to use substantive analytical procedures, is based on Designing audit procedures Designing audit procedures The objective of the auditor is to obtain sufficient appropriate audit evidence about assessed risks through designing and implementing appropriate responses to those risks. See paragraph . substantive analytical procedures. If substantive procedures are performed at an interim date, the auditor shall cover the remaining period by performing: (a) substantive procedures, combined with tests of controls for the intervening period; or (b) if the auditor determines that it is sufficient, further substantive procedures only, The document outlines audit procedures for testing accounts and notes receivables. It discusses examining receivables schedules, confirming balances with debtors, inspecting notes, and performing analytical procedures to assess reasonableness. The document discusses designing substantive audit procedures based on audit risk. indd All Pages 30/10/17 11:43 AM Jun 19, 2020 · Download Citation | Substantive Auditing Procedures | This chapter identifies the five key components of the contractor's audit model: original contract price, modifications, cost to date Audit Data Analytics Guide - Draft Overview Audit Data Analytics - Guide Chapter Description Chapter 8 Use of ADA’s as Substantive Tests of Details and Substantive Analytical Procedures Chapter 9 Use of ADA’s in Forming an Overall Conclusion Chapter 10 Documenting the use of ADA’s Chapter 11 ADA’s in the External Audit of the Future Analytical Procedures 20. pdf from AUDIT 111 at Harvard University. the year end. D. pdf from ACC 3022 at University of Cape Town. CPA Substantive This question tests candidates’ understanding of the different types of procedures which the auditor may perform during the audit, and in particular the distinction between tests of controls and substantive procedures. The document provides guidance on writing audit procedures, including factors to consider such as clearly explaining the procedure, reason, and assertion. com AAGANP17P Audit Guide Analytical Procedures Analytical Procedures | October 1, 2017 October 1, 2017 AAG-ANP-Cover. Peecher, Ph. docx), PDF File (. Effective for audits of financial statements for periods ending on or Aug 21, 2018 · 1. . Substantive Procedures Substantive procedures are intended to create evidence that an auditor assembles to support the assertion that there are no material misstate- Substantive Procedures 17. The decision about which audit procedures to perform, including whether to use substantive analytical procedures, is 350, Audit Sampling, and section 312, Audit Risk and Materiality in Conduct-ing an Audit. This section provides guidance to the auditor in designing and performing further audit procedures, including tests of the operating effectiveness of controls, where relevant or necessary, and substantive procedures, whose nature, timing, and . of substantive procedures are not intended to be all-inclusive, nor is it expected that all of the procedures would be applied in an audit. In general, substantive audit procedures can include the following: Apr 1, 2021 · View SUBSTANsive and analytical procedure. Auditing combines precision with adaptability. They may be used to carry out numerous audit tasks, for Substantive Analytical Procedures (Ref: Para. To test for existence, auditors can select payable Chapter 9: Audit procedures . Confirm accounts receivable and perform procedures for confirmations not returned. Examples of Substantive Audit Procedures. Jul 29, 2024 · Internal controls can serve two purposes: to protect a business from accounting fraud, asset loss, or similar financial reporting failures; and to assure that the business meets its regulatory compliance obligations. The auditor’s substantive procedures at the assertion level may be tests of details, substantive analytical procedures, or a combination of both. 128;SASNo. lOMoARcPSD|8715637 Substantive Procedures Auditing (University of Limpopo) Scan to open on Studocu Studocu is Auditing - Test of Control and Substantive Procedures - Free download as Powerpoint Presentation (. (ISA 330). txt) or view presentation slides online. MFMA 2022-2023; MFMA 2021-2022; MFMA 2020-2021; MFMA 2019 - 2020; MFMA 2018 - 2019 i) Writing irrelevant audit procedures – for example, when you are asked to write audit procedures relating to depreciation of a non-current asset, it will be inappropriate to provide general audit procedures relating to audit of non-current assets. Collectability, allowance accounts, interest income computation The document outlines substantive audit procedures for testing accounts payable, including procedures to test for completeness, existence, and valuation. The decision about which audit procedures to perform, including whether to use substantive analytical procedures, is based a. On the other hand, when the word “primary analytical procedures” is used, it usually refers to analytical procedures that are performed at the planning stage of the audit to assess the risk and direct auditors’ attention to the high-risk The document discusses substantive audit procedures related to inventory. This knowledge helps auditors tailor their procedures to address specific risks and challenges. (a ) Substantive procedure – An audit procedure designed to detect material misstatements at the assertion level. [Revised, March 2006, to reflect conforming Performing Audit Procedures that Involve Technology-Assisted Analysis of Information in Electronic Form to state that the “level of disaggregation or detail of information necessary to achieve the objective of the audit procedure” impacts the relevance of audit evidence. Substantive procedures AA ACCA - Free download as Word Doc (. 1 Main Goal The current study aimed to investigate the relationship between the audit objective and the choice of substantive procedures used to ensure the satisfaction of the auditor. com AT-12 ANALYTICAL PROCEDURES - - Evaluations of financial information made by a study of plausible relationships among both financial and non-financial data USING ANALYTICAL PROCEDURES Planning (required) Directs attention to likely misstatements Substantive audit procedures pdf Audits can take many forms, but they generally follow time-tested accounting practices. Substantive procedures are concerned with amounts and are of two types: analytical procedures and tests of details of transactions and balances. 5) A4. Test of controls. , a substantive test of sales transactions performed concurrently with a test of controls over those transactions. AI Chat with PDF Oct 18, 2024 · Auditing involves many activities, but the core activity is substantive procedures. Substantive proce-dures comprise. Jun 14, 2022 · If substantive procedures are performed at an intern date, the auditor shall cover the remaining period by performing: a) Substantive procedures, combined with tests of controls for the intervening only b) If the auditor determines that it is sufficient, further substantive procedures only that provide a reasonable basis for extending the audit Apr 19, 2024 · In auditing, substantive testing is essential for verifying accuracy, detecting possible fraud or errors, and improving audit quality. 1. When you have completed this chapter you will be able to: Explain the assertions contained in the financial statements; Provide examples of procedures used to audit specific balances; Discuss and provide examples of how analytical procedures are used as substantive procedures; ered stage 1 and 2 in previous auditing modules. While tests of controls assess the effectiveness of internal controls ACCA AA_AAA substantive procedures by Alan Biju Palak ACCA (1) - Free download as PDF File (. • Audit procedures responsive to risks of material misstatement at the relevant assertion level. org | AICPAStore. 330] — Section 402, Audit Considerations Relating to an Entity Using a Service Organization (1 = the audit procedure; 2 = the reason for the audit procedure; 3 = the assertion). 14 Paragraphs . Audit procedures are a vital part of Paper F8 and Paper FAU. ’The auditor s substantive procedures at the assertion level may be tests of details, substantive analytical procedures, or a combination of both. 1 Mark E. Starblocks Audit Case Materials1 Version 4. pdf from AUDITING MAC007 at Universal Business School Sydney. Jul 31, 2024 · View Assignment - substantive-procedures. This document provides a series of multiple choice questions related to auditing procedures for sales and cash receipts cycles. If the above mentioned procedure is written as ‘The auditor will check a sample of items from the inventory sheets to the raw material inventory’, it is incomplete as it does not mention why the audit procedure is being performed. b. ppt / . Substantive_Procedures_-_Audit_of_PPE - Free download as PDF File (. This document discusses financial statement assertions, which are representations made by management that are embodied in financial statements. docx - Free download as Word Doc (. For receivables substantive testing, circularization is used to confirm account balances directly with customers through positive or negative confirmation letters Oct 20, 2024 · Designing Substantive Procedures. It is useful to note that the word “substantive analytical procedures” refers to analytical procedures that are performed as a substantive test. Under PCAOB standards, auditors are permitted, but not required, to perform substantive analytical procedures as part of a financial statement audit. 2 Secondary Objectives As Jan 10, 2024 · The execution of substantive procedures is a dynamic process where auditors apply their professional judgment to gather sufficient and appropriate audit evidence. resacpareview. pdf from ACC 3022H at University of Cape Town. Aug 2, 2022 · View AT-12 (Further Audit Procedures - Substantive Tests). 22 CHAPTER 24 SUBSTANTIVE ANALYTICAL PROCEDURES INTRODUCTION Substantive Analytical Procedures (SAPs) are a type of procedure available to be planned in response to the assessed risk of material misstatement as documented in our audit plans, see chapter 18 - Design Audit Response. To test for completeness, auditors may trace vouchers to journals, obtain payable listings, search for unrecorded liabilities, confirm accounts payable, and review after-date transactions. Substantive analytical procedures are generally more applicable to large volumes of transactions that tend to Substantive tests are procedures performed on specific transactions and balances to test for dollar misstatements in an account balance or transaction. SUBSTANTIVE PROCEDURES REFERENCES: ISA 315 ISA 330 ISA 500 ISA 505 ISA 520 ISA 540 ISA 580 ISA 620 Auditing Fundamentals Chapter 13 INTRODUCTION Substantive procedures, consisting of substantive analytical procedures and substantive tests of detail (or classes of transactions, account balances and disclosure) are procedures that the May 24, 2024 · Since December 15, 2012, substantive analytical procedures have been crucial in auditing. A65–A66) *** Application and Other Explanatory Material Scope of This SAS (Ref: par. Chapter 9: Execution of the audit - performing substantive procedures Review Oct 4, 2024 · Your audit and review showed the following shareholders’ equity accounts in the general ledger: Share Capital 08/30 CD P550,000 01/02 CR P6,000,000 12/29 J 545,000 Retained Earnings 12/29 J P545,000 12/01 CR P287,500 12/31 J 4,000,000 Based on the other working papers submitted by your audit staff, the following additional information was forwarded: From the Articles of Incorporation of Proper procedures should be adopted for the follow-up of defaulted notes. It also addresses the auditor's responsibility to perform analytical procedures near the end of the audit that assist the auditor when forming an overall conclusion on the financial statements. The purpose of substantive procedures is to obtain audit evidence to detect material misstatements in the financial statements. In addition, audits […] It is necessary when: the auditor’s risk assessment includes an expectation of the operating effectiveness of controls substantive procedures alone do not provide sufficient appropriate audit evidence Substantive Procedures – Detect material misstatements at the assertion level AUDIT PROCEDURES ACCORDING TO NATURE Inspection Inspection of . 300] — Section 330, Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence [AICPA, Professional Standards, AU-C sec. As an overall review of the financial information in the final review stage of the audit Analytical procedures should be applied to some extent for the purposes re- Planning an Audit 277 AU-CSection300 Planning an Audit Source:SASNo. They include analytical procedures such as analyzing ratios and trends, as well as tests of details on transactions and balances. Defining Substantive and Analytical Procedures. Aug 9, 2020 · View Substantive Procedures (1-Page Summary). Understanding Substantive ProceduresSubstantive procedures are one of the two main types of audit procedures, the other being tests of controls. g. Key procedures include attending physical inventory counts, agreeing inventory figures to supporting documents, testing cutoff through sales and purchase documents, and verifying inventory costs and net realizable values. Substantive procedures comprise: (i ) Tests of details (of classes of transactions, account balances, and disclosures), a nd (i i) Substantive analytical procedures. (06 marks) (CA Inter - Autumn 2012) Describe substantive procedures the auditor should perform to confirm the bank and cash balance of Fox Industries Co at. In addition to the audit procedures discussed above, the following analytical procedures may often be helpful as a means of obtaining audit evidence regarding the various assertions relating to revenue: (a) Comparison, product-wise and location-wise, of revenue for the current Audit software is a generic term used to describe computer programs designed to carry out tests of control and/or substantive procedures. 07 of section 318, Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained. The auditor should document how the alternative audit procedures performed achieve the objective of the audit, and, unless otherwise clear, the reasons for the departure. pdf from ACCOUNTING 130 at Nixor College. OSPs may be the sole procedures designed or may be designed in conjunction with other audit procedures such as chapter 23 - Tests of Controls and chapter 24 - Substantive Analytical Procedures. ReSA - THE REVIEW SCHOOL OF ACCOUNTANCY CPA Review Batch 42 October 2021 CPA Licensure Exam Week No. 3 Objectives Given the above preamble, it is imperative to present the main and secondary goals of the study, as shown below: 1. Substantive analytical procedures differ from other types of analytical procedures in We would like to show you a description here but the site won’t allow us. Nov 30, 2024 · The following important items would normally require audit documentation: Discussions of significant matters with management and others in a timely manner. The document outlines the audit procedures for property, plant, and equipment (PPE) transactions. (07 marks) F8 (ACCA - June 2013) Substantive procedures, including tests of details and substantive analytical procedures. Substantive procedures are designed to detect material misstatement at the assertion level whereas tests of Jan 21, 2024 · In addition to analytical procedures, auditors also perform substantive audit procedures to provide assurance of the accuracy of financial statements. CAF 09 - Memory Kit for Substantive Procedures Tangible Non-Current Assets General Procedures: Agree F/S with List the substantive procedures that may be performed by an auditor to verify Bank reconciliation statements. Inspection Test of controls – An audit procedure designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level. Therefore, you need to Appendix A - Definitions. It covers procedures to test for existence, completeness, cut-off, and accuracy/valuation of inventory. The following tips will help you to understand the concepts and write appropriate audit procedures. Conducting these procedures places a heavy emphasis on the manner in which auditors justify their assertions regarding the state of a client’s accounting records and the financial statements derived from them. Mar 8, 2022 · SUBSTANTIVE PROCEDURES • Used to substantiate the account balances or to detect material misstatements in the financial statements • May be performed using analytical procedures or test of details Substantive Analytical Procedures • An optional substantive procedure • Uses the steps as follows: o Develop expectations about the financial statements o Compare financial statements with Dec 26, 2020 · Substantive Tests Substantive Tests Objective of Substantive Tests Auditing of financial accounts is the process of verifying that economic events in the real world are accurately summarized in the financial statements of a legal entity. 3. Cutoff testing of sales and returns is recommended to validate proper period recording. It includes 25 multiple choice questions that assess understanding of key concepts related to substantive procedures, including tests of details, analytical procedures, confirmation, recalculation, reperformance, assertions, and gathering sufficient appropriate Oct 16, 2024 · Formulate the substantive procedures In formulating substantive procedures, the following steps will be followed: The HOW in formulating substantive procedures is directly link to ISA 500 – Audit evidence, because the auditors want to obtain sufficient and appropriate audit evidence on whether or not the amount or disclosure is free from Auditor-General South Africa | AGSA. Jan 7, 2014 · Analytical procedures can be used for different purposes at different stages of audit, viz. 134. The performance of a SAP involves the following essential stages: Substantive-Testing-audit-procedures - Free download as Word Doc (. 01 This section addresses the auditor's use of analytical procedures as substantive procedures (substantive analytical procedures). pdf from ACC 546 at Phoenix College. substantive procedures. doc / . Oct 21, 2020 · View Substantive Procedures . It explains that substantive procedures depend on the level of detection risk, with a low detection risk requiring a predominantly substantive audit strategy. The decision about which audit procedures to perform, including whether to use substantive Jun 12, 2024 · Substantive procedures include substantive analytical procedures and tests of details (see Figure 1). May 15, 2024 · In this article, we'll delve into the concept of substantive procedures, their importance, types, and how they are conducted. An audit evaluates the accuracy of a company’s financial statements and the effectiveness of its internal control system to identify control weaknesses. 122;SASNo. pdf), Text File (. Such programs may be classified as: Packaged programs These consist of pre-prepared generalised programs used by auditors and are not ‘client specific’. Illustrative Assertions About Account Balances Examples of Substantive Nov 8, 2024 · View Starblocks Audit Case Materials. The auditor shall consider whether external confirmation procedures are to be performed as substantive audit procedures. Timing of Substantive Procedures . The topics that we are going to cover are set out as follows: Topic 1: Audit evidence Topic 2: Substantive procedures: the concepts Topic 3: Formulating the substantive procedures for the cycles Topic 4: Evaluating, concluding and reporting UNIT_X__COMPILANCE_AND_SUBSTANTIVE_AUDIT_PROCEDURES. An audit opinion—the product of such auditing—provides reasonable assurance What is Substantive Audit Procedures? Substantive audit procedures are auditing techniques used to obtain audit evidence in order for auditors to conclude whether financial statement line items are free from material misstatement. The auditors test management's assertions by using a May 1, 2020 · View Substantive Audit Procedures. Substantive Audit procedures Learning Outcomes • Be able to explain what is the difference between a test of detail and The objective is to obtain sufficient and appropriate audit evidence over relevant assertions for Property, Plant and Equipment, through substantives procedures. At the onset, auditors look at a company's records to identify problem areas where a potential exists for material misstatements of the financial statements. substantive analytical procedures, is based on the auditor’s judgment about the expected effectiveness and efficiency of the available audit procedures to reduce audit risk at the assertion level to an acceptably low level. This article explores the importance of substantive testing in audits, covering its main components, various types, the process it involves, and the advantages it offers to stakeholders. This phase is characterized by a responsive approach, where auditors may need to adjust their methods based on the evidence collected. The main difference between these tests is that controls testing does not directly measure dollar ($) error in the accounting records. 2. Timing of Substantive Procedures 22. 2024. 1–3) A1. Aug 15, 2024 · Why are substantive procedures in auditing important? Substantive procedures in auditing are important because they prioritize thorough documentation of finances. Assertions Audit procedures Audit procedures are an important area of the syllabus, though candidates often use inappropriate audit procedures to answer questions. of material misstatement, the auditor designs and performs substantive procedures for each material class of transactions, account balance, and disclosure. Note: AS 2110, Identifying and Assessing Risks of Material Misstatement, establishes requirements regarding performing analytical procedures as a risk assessment procedure in identifying and assessing risks of material misstatement. A2 Dual-purpose test - Substantive test of a transaction and a test of a control relevant to that transaction that are performed concurrently, e. Substantive procedures are audit procedures designed to detect material misstatements at the assertion level. This document outlines various internal audit assignments, fraud responsibilities, safeguards for conflicts of interest, reliance on expert work, differences between interim and final audits, value for money audits, benefits of audit documentation, audit Jul 14, 2024 · This article provides an in-depth exploration of the profound impact of Artificial Intelligence (AI), particularly Large Language Models (LLMs) and Generative AI, on substantive audit procedures Substantive Analytical Procedures (Ref: Para. auditing – study notes chapter 12 substantive procedures chapter twelve substantive procedures lloo ## lleeaarrnniinngg oobbjjccttiivvee iiccaapp''ss ssttuuddyy tteexxtt rreeffeerreennccee** lloo 11 ttaannggiibbllee nnoonn--ccuurrrreenntt aasssseettss 99. A48–A51) Substantive Procedures Related to the Financial Statement Closing Process 20 Substantive Analytical Procedures (Ref: Para. As mentioned earlier, substantive audit procedures can be defined as numerous verifications and checks that are carried out on numerous different levels in order to ensure that all necessary ground has been covered. Substantive procedures are planned to obtain audit evidence over the relevant assertions for the financial statements line item or account group. The purpose of an audit procedure determines whether it is a risk assessment procedure, test of controls, or substantive procedure. tevfuw kntido qui klhag zerokjzd hyhe thuks fihcbo cuvr jywlsi