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Hi Sir.
I could not get the correct meaning of the verb “cast” used in examples of substantive audit procedures. For example, it says “Cast a sample of payroll records to confirm completeness and accuracy of the payroll expense.”
Thank you in advance.
It seems I got the answers after sponsored searches appeared on my screen. IT always means “add up” or “sum up” right? 🙂
Yes – it implies also that you agree the total – i.e. reperformance. The term “cross cast” is used to mean to check a sum horizontally/across rows rather than vertically/down a column.
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