1-What is a subsequent (cut-off) bank statement?How is it used by auditors?

2-What is the common audit approach for auditing consolidated financial statements? List two common substantive procedures performed during an audit of consolidated financial statements.

3-Why are analytical procedures not often useful when auditing the cash balance?

4-What is the purpose of payables cut-off testing?

5-What audit approach is generally used for property, plant, and equipment?Why?

6-Briefly define 1) an error and 2) a judgemental misstatement. Provide an example of both an error and a judgemental misstatement that could affect the balance of property, plant and equipment.