Web2. Test of details for income statement accounts . When the evidence obtained from analytical procedures and test of details of related balance accounts does not reduce detection risk to an acceptably low level, direct tests of details of assertions about income statement accounts are necessary. This may be the case when. Inherent risk is high. WebJun 23, 2024 · Substantive testing is an audit procedure that examines the financial statements and supporting documentation to see if they contain errors. These tests are needed as evidence to support the assertion that the financial records of an entity are complete, valid, and accurate. There are many substantive tests that an auditor can use.

Test of Details: Definition, Procedures, Examples, and More

WebMar 27, 2016 · 6 years ago. …See more. Tests of Controls are type of audit tests that auditor's understanding of internal control is used to assess control risk for each transaction-related audit objective, for example, tests of controls including procedures to obtain understanding of internal control of Sales cycles. However, Test of Details of Balanses ... Webtest: [noun] a means of testing: such as. something (such as a series of questions or exercises) for measuring the skill, knowledge, intelligence, capacities, or aptitudes of an … most effective ceiling fans

Test of details vs Analytical procedures - Free ACCA & CIMA …

WebThe audit procedures for obtaining audit evidence comprised tests of controls, substantive analytical procedures and test of details (other substantive procedures). UN-2. … WebMar 21, 2024 · For every test type defined in the Test plan ( For Example, Unit, Integration, System, Regression, Installation/Uninstallation, Usability, Load, Performance, and Security testing) describe why it should be … WebNov 28, 2024 · Tests of details are used by auditors to collect evidence that the balances, disclosures, and underlying transactions associated with a client's financial statements … miniature sculpting green stuff backpacks