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SUBSTANTIVE TESTING AND COMPLIANCE TESTING

This topic has 1 reply, 2 voices, and was last updated 12 years ago by Ken Garrett.

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April 14, 2012 at 1:26 pm #52213
avylara
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- Topics: 1
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how am I to know which the examiner is referring to when she asks for the audit procedures in a scenario question. Am I required to list every procedure to be done for example an 8marks
question??
April 15, 2012 at 6:48 pm #96304
Ken Garrett
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- Topics: 10
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If you are asked for ToC, then you must test controls: authorisations, reconciliations, etc. If there are no controls described in the scenario, you would have to describe substantial procedures.
For 8 marks you should probably aim for 8 procedures.
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