The term "substantive" comes from _______. Show
A. "insubstantial," which means auditors gather evidence to support only insubstantial transactions, account balances, and disclosures provided by management in the financial statements A not-for-profit organization published a monthly magazine that had 15,000 subscribers on January 1, 2013. The number of subscribers increased steadily throughout the year and on December 31, 2013, there were 16,200 subscribers. The annual magazine subscription cost was $10 on January 1, 2013 and was increased to $12 for new members on April 1, 2013. Subscriptions are paid in full at the beginning of the member term. An auditor should expect that the revenue from subscriptions for the year ended December 31, 2013, would be approximately $179,400. $171,600. $164,400. $163,800. What is a predictive substantive analytical procedure?Substantive analytical procedures are used to predict values, based on the expectation that relationships among data exist and continue in the absence of known conditions to the contrary.
What is the purpose of substantive analytical procedures?The primary purpose of substantive analytical procedures is to obtain assurance, in combination with other audit testing (such as tests of controls and substantive tests of details), with respect to financial statement assertions for one or more audit areas.
Which of the following would be the most likely reason to include more unpredictability in the selection and performance of audit procedures?Which of the following would be the most likely reason to include more unpredictability in the selection and performance of audit procedures? There is heightened risk of fraud. The nature of an audit procedure refers to: its purpose and its type.
Which of the following is an analytical procedure that an auditor most likely would perform when planning an audit quizlet?Compare recorded financial information with anticipated results from budgets and forecasts. Which of the following analytical procedures that an auditor most likely would perform when planning an audit? Comparing current year balances to budgeted balances.
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Which of the following tends to be most predictable for purposes of analytical procedures applied as substantive tests quizlet?
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