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If I am asked to describe substantive procedures you should perform to obtain sufficient, appropriate audit evidence do I need to label which assurance I am testing in each substantive procedure or can I just explain the procedure?
I.e. If I am looking at a disposal of an asset can I just say “recalculate the depreciation to be removed from the depreciation account and investigate any differences” or do I have to mention the assertion it tests to get the marks?
The word is assertion (not assurance). If stated in the requirement (e.g. COMPLETENESS ) you clearly don’t have to specify.
However, if you read any examiner’s report you’ll see that for full marks, you would be expected to give some reason/purpose and the assertions are useful here.
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