1)what is test of control?
2)What is test of details?
3) what is analytical procedures
4)What is substantive analytical procedures?
Test of control is a procedure to test the effectiveness of a control that is used by the client to prevent or detect material misstatements. If the test reveals that the controls are weak, the auditors enhance their use of substantive testing that also increases the cost of their audit.
Test of details is used by auditors to collect evidence that the disclosures, balances and transactions associated with a client's FS are correct.
Analytical procedures are the audit processes which help an auditor understand the client's business and changes in the business & also to identify potential risk areas to plan other audit procedures.
Substantive analytical procedures obtain direct evidence from a sample. it is time consuming.
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