Explain what is meant by 'testing the details' of financial statement balances and distinguish between the two approaches to testing the details - testing classes of transactions which generate account balances and directly testing account balances and also describe common audit procedures used to test the details of financial statement balances.

Explain the actions auditors are required to take in respect of misstatements identified during the audit

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Explain what is meant by testing the details of financial statement balances This refers to the focu... View the full answer