Question: What are substantive tests?

What are substantive tests?

Step by Step Solution

★★★★★

3.50 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Substantive tests also known as substantive procedures are the workhorse of an audit that dives into the nittygritty of a companys financial records T... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Auditing International Approach Questions!

Q:

A tornado damaged a part of the City of Westbrook's Police Station. Some of the costs related to the damage included the following: 1. The building wiring had to be replaced. Since the wiring was...

Q:

McClain Plastics has been an audit client of Belcor, Rich, Smith & Barnes, CPAs (BRS&B), for several years. McClain Plastics was started by Evers McClain, who owns 51% of the companys stock. The...

Q:

Southeast Shoe Distributor (SSD) is a closely owned business that was founded 10 years ago by Stewart Green and Paul Williams. SSD is a distributor that purchases and sells mens, womens, and...

Q:

Suzie Pickering has experience in the clothing and retail industry, which is why she was assigned to the Cloud 9 audit. Suzie is mentoring Ian Harper, a first-year staff on the audit team, and they...

Q:

attach relative notes And please answer the questions part by part (separate) Case: Far East Plastics Ltd. You are the audit manager in charge of the audit of Far East Plastics ("FEP") Ltd., for the...

Q:

Poly Distributors Ltd. December 31, 2019 PLANNING MEMORANDUM 1. Analytic Review Procedures (ARP) Per the horizontal analysis on WP A, the following unexpected or unusual changes occurred in 2019...

Q:

attach relative notes And please answer the questions part by part (separate) Case: Far East Plastics Ltd. You are the audit manager in charge of the audit of Far East Plastics ("FEP") Ltd., for the...

Q:

Poly Distributors Ltd. December 31, 2019 PLANNING MEMORANDUM 1. Analytic Review Procedures (ARP) Per the horizontal analysis on WP A, the following unexpected or unusual changes occurred in 2019...

Q:

1. A set of characteristics that helps to define a seriousness about employees' attitudes about the control activities in a company is referred to as A. Management assertions. B. Control environment....

Q:

I need to finish assignment Assignment 6 WPs 21-1, 21-2, 21-3, 21-5, 21-6, 21-17, 21-18, 21-19, 21-20, 21-21 Assignment 7 WPs 30-1, 30-2, 30-4, 30-5, 30-21, 30-22, 30-23, 30-24 Assignment 8 WPs 20-1,...

Q:

File referenced in part A- INTEGRATED CASE APPLICATION PINNACLE MANUFACTURING: PART V understanding of 14-37 (OBJECTIVES 14-3, 14-5) In Part IV of this case study, you obtained an internal control...

Q:

Over a period of time in the past, you noticed that the exchange rate between the Thai baht and the dollar changed considerably. In particular, the $:baht exchange rate increased from 25 to 30. a....

Q:

Dartmouth College professor M. Eric Johnson, in collaboration with Tiversa, Inc., a company that monitors peer- to- peer networks to provide security services, wrote an article titled Data...

Q:

E8.7 (LO 2) (Valuation at Net Realizable Value) Matsumura Dairy began operations on April 1, 2025, with the purchase of 200 milking cows for 6,700,000. It has completed the first month of operations...

Q:

Minnesota Machine Tool Company has an automated production process, and production activity is quantified in terms of machine hours. It uses a standard-costing system. The annual static budget for...

Q:

One concern in the use of IT within companies is related to the considerable costs of such operations. The cost elements are not only related to the implementation phase of computerized accounting...

Q:

Advances in IT have changed the corporate reporting process. This has altered the traditional methods of handling accounting and auditing data. Discuss the role of auditors in a changing IT...

Q:

Identify and briefly explain the general criteria to achieve appropriate accounting information processing in the case of e-business transactions.

Q:

c ) Regular grammars and regular languages are constructed using regular expressions. Determine regular expressions over = { a , b , c , d } for the language defined as follows: L = { a n c b d m : m...

Q:

How do firms implement strategies and processes to effectively control and manage their assets to optimize operational efficiency and financial performance

Q:

Discuss the role of bias, ethics and governance issues in AI