Page 26 - PowerPoint Presentation
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GENERAL PRINCILES OF AUDITING
WHY PERFORM SUBSTANTIVE PROCEDURES?
• Test of controls on their own cannot provide the
auditor with sufficient, appropriate evidence on
which o base an opinion.
• It is therefore necessary for the auditor to
perform tests of a substantive nature.
• Substantive procedures are classified into Tests of
Controls or Analytical Procedures.
• SPs support AFS assertions on balances,
transactions and disclosures).
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CharterQuest
