Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

PQ Awards Nominations

Please help us to win one of the PQ Magazine awards and send in the voting form >>
You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year.

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Differences between Analytical Procedures and Substantive Analytical Procedures

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Differences between Analytical Procedures and Substantive Analytical Procedures

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 1, 2021 at 3:58 pm #622649
    neoh0714
    Member
    • Topics: 10
    • Replies: 8
    • ☆

    Hi Kim,

    do you mind to explain further the differences between these 2 terms?

    I thought these 2 terms are the same but seems like isn’t.

    June 1, 2021 at 4:32 pm #622659
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6802
    • ☆☆☆☆☆

    See page 60 of the notes – analytical procedures may be applied in 3 stages of the audit – the first (as a risk assessment procedure) and the last (as a review procedure) are a REQUIREMENT in any audit. Substantive analytical procedures are optional and will be performed only if they are effective in responding to an assessed risk of misstatement.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.