Explain the differences between an auditor using a combined approach versus a substantive approach and when you might use one approach over the other. Discuss at leastONEpros andONEcons of usingeachapproach. (4 pros/cons total)(5 marks)

*Only the first pro and con for each approach will be marked - anything additional will be ignored.*

Explanation of difference between combined and substantive approach:

Pros/Cons Combined Approach:

Pros/Cons Substantive Approach: