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Hi, what is a
-reasonableness test
-Proof in total test
-test of controls
-test of details?
Thank you.Before I answer, where have you read the expressions? And does it not explain the various expressions in the book in which you saw these expressions?
I get the impression that I am being tested!
It is very helpful to come to this forum and read questions and answers that you give, Mike!
Not that I get a lot of new information but I leave the page smiling (if not laughing) and in a good mood 😉
Thanks!Reasonableness test – does the figure in the draft financial statements (or in a computer generated total, or in a stock valuation) appear reasonable
Proof in total test – do the individual postings to a ledger agree in total to the control account posting
Tests of control – check your F8 auditing course notes (is this really a P7 student asking about tests of control?)
Tests of details – probably referring to individual items in substantive procedures where you would be confirming individual assertions relating, for example, to the purchase of new plant
Hope that brings a smile to your face 🙂
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