Question: With reference to the article Between a rock and a hard place: A path forward of using substantive analytical procedures in auditing large P&L accounts
With reference to the article "Between a rock and a hard place: A path forward of using substantive analytical procedures in auditing large P&L accounts by Steven M. Glover, Douglas F. Prawitt, and Michael S. Drake, determine the following:
- Requirements - how are they carried out?
- Relationship of SAP and misstatement
- Relationship with audit evidence
- What type of evidence may be gathered?
- Why there are criticisms of SAP?
- Relationship of SAP and audit quality
- Relationship with material misstatements and level of assurance
- Low assurance substantive analytical procedures
- Combination with other audit procedures - examples
- SAP vs. other audit procedures - why others are considered superior?
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