Substantive procedure

Substantive analytical procedures are applied on which stage of audit?

• Risk assessment and planning
• Preliminary activities
• Evaluate and conclude
• Responses to risk

What does an interim strategy involve?

• Testing a portion of the population early
• Comparing information at interim and period end dates
• Performing only substantive analytical procedures

Choose the correct statement ?

• Only substantive analytical procedures will be sufficient
• Only test of details are appropriate procedure
• A combination of substantive analytical procedure and test of details are more responsive to the identified and assessed risk
• None of the above

An interim strategy involves performing substantive analytical procedure as

• Identify amount that appear unusual
• Investigate any such amount
• Perform substantive analytical procedure or test of details to test the intervening period
• All the above

The below factor is an example of which strategy:

"Controls are weak or controls may change during the intervening period"

• Interim strategy

• Advanced strategy

What are the various means of selecting items for testing?

• Selecting all items (100%)
• Selecting specific items
• Audit sampling
• All the above

Obtaining relevant and reliable audit evidence from substantive analytical procedures involves:

• Determining the suitability of particular substantive analytical procedure
• Evaluating the reliability of data used
• Both A and B
• Either A or B

The substantive procedures performed between the interim date and period end (the roll-forward period) are commonly referred to as

• Roll-back procedures
• Roll-forward procedures
• Both A and B
• Either A or B

What are the nature of audit procedures relevant to tests of details ?

• External confirmation
• Inspection
• Recalculation
• All the above

In this procedure current amounts are compared to prior period amounts over a period of time. This analysis is limited to a single predictor and does not include operating or external data.

• Trend analysis
• Ratio analysis
• Reasonableness test
• Regression analysis