What is the difference between A E I O U And ACCA COVER?
Why do we then get a question on substansive test for Receivables ETC?
Can someone please help me on this matter!
Thanks
ACCA Forums
AAAudit Evidence
AEIOU is audit procedure to obtaining audit evidence.
ACCA COVER are substantive procedure- financial statement assertions.
Essentially a financial statement assertion means whenever a figure appears in the financial
statements it is making certain claims, proclamations or assertions.
Thank you for your answer. This has really made me confident around that certain area.
Just be wary of the mnemonics used....read this article from ACCA back in 2009
https://www.accaglobal.com/content/dam/acca/global/PDF-students/2012s/sa_spt09_lw_09.pdf
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