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Hello,
Whether a substantive test can give evidence for more than 1 assertion?
For example, apart from Existence, does this test ” undertaking a receivables circularisation” also give evidence for Rights and Obligations?
Yes, one test can give evidence supporting more than one assertion. Your example also provides evidence about accuracy.
Similarly, inspecting non-current assets can give evidence for existence and (provided you look for it) valuation – is the asset obviously not used and little more than scrap?
Remember to specify the assertions being dealt with.
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