Give me tips, how i grip topic of " SUBSTANTIVE PROCEDURES & EVIDENCE " ?
Kindly some one guide me methodology to grip this topic. Thanks.
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AAA" SUBSTANTIVE PROCEDURES & EVIDENCE "
For audit procedures, always give;
an action (Obtain, re-calculate, etc);
a source (bank statement, etc);
and an objective (to verify the payment of $100m to abc ltd)
for Evidence, I treat it as;
Calculate Materiality (M)
State Accounting Treatment (A)
State Risk (R)
State the Evidence needed (E)
I hope this helps.
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