Completeness- Substantive testing

This topic has 3 replies, 2 voices, and was last updated 9 years ago by Ken Garrett.

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November 9, 2016 at 7:01 am #348148
acca9
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For the financial statement assertions of completeness, would a valid substantive test be to check that all invoices are sequentially numbered?
Thanks in advance
November 9, 2016 at 5:55 pm #348244
Ken Garrett
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That would be a start, but there would need to be some assurance that the sequence of invoices was completely accounted for. Sequential numbering is only useful if accounting for the sequence is verified.
November 9, 2016 at 6:57 pm #348255
acca9
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and how is accounting for the sequence achieved?
November 10, 2016 at 7:41 am #348289
Ken Garrett
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Go through and ensure all numbers/documents are accounted for.
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