So assertions are two types
1)Classes and events related to disclosure for the period of audit like salary expenses: includes-Completeness, Accuracy, Occurrence,etc
2)Account balances related to dislodge at year end like assets, liability, inventory etc
includes: COVECP completeness, accuracy etc.
Second step is to find evidence which consist of AEIOU-analytical procedure, Inquiry etc.
and these can be test of controls?
Doubts-
1)My above information is correct?
2)where do we have to apply substantive test of detail and analytical procedure?
3)Test of control and test of details is same thing?
Thanks
ACCA Forums
AAsubstantive test
Hey.
1. Yes.
2. Mostly in questions on Analytical procedures for inventory, accruals, cash and such
3. No. Test of detail relates to substantive procedures which is different from test of control.
I hope this helps. Happy Studying! :)
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