Search results
Jun 5, 2024 · The primary purpose of procedures in health and social care is to ensure consistency, safety, and quality. They achieve this by: Standardising Care: Procedures create a uniform approach to tasks, ensuring everyone follows the same steps. This prevents misunderstandings and variations in care. Promoting Safety: Detailed instructions help avoid ...
Oct 3, 2024 · Substantive testing refers to detailed procedures used during an audit engagement that provides evidence of whether financial statements are presented fairly and accurately. Essentially, it is a procedure adopted by auditors to help verify that a set of financial statements are free from material errors.
Jan 10, 2024 · The execution of substantive procedures is a dynamic process where auditors apply their professional judgment to gather sufficient and appropriate audit evidence. This phase is characterized by a responsive approach, where auditors may need to adjust their methods based on the evidence collected. As auditors delve into the financial records ...
Auditors usually perform substantive audit procedures after tests of controls to obtain evidence about various audit assertions. This can be done by various audit procedures such as inspection, confirmation, recalculation, and analytical procedures, etc. In an audit, auditors have the responsibility to design and perform substantive audit ...
Chapter 9: Audit procedures. Chapter learning objectives. When you have completed this chapter you will be able to: Explain the assertions contained in the financial statements; Provide examples of procedures used to audit specific balances; Discuss and provide examples of how analytical procedures are used as substantive procedures;
Chapter 7: Audit evidence. Chapter learning objectives. When you have completed this chapter you will be able to: Discuss the quality and quantity of audit evidence; Explain the purpose of substantive procedures; Explain why an auditor needs to obtain an understanding of internal control; Explain the need to modify the audit strategy and audit ...
People also ask
What are substantive procedures?
What are substantive audit procedures?
What are substantive analytical procedures?
What is the execution of substantive procedures?
Why do auditors perform substantive audit procedures after tests of controls?
What is a substantive test of detail?
The execution of substantive procedures involves several key steps: Planning: Determining the nature, timing, and extent of substantive procedures based on the assessed risk of material misstatement. Auditors plan procedures in conjunction with the results of control testing and risk assessment. Sampling: Selecting samples from the population ...
