Bell, CPA, has been engaged to audit the financial statements of Dynamic Department Stores, a continuing audit entity, which is a chain of medium-sized retail stores. Dynamics fiscal year will end on June 30, 2021, and management has asked Bell to issue the auditors report by August 1, 2021. Bell will not have sufficient time to perform all of the necessary fieldwork in July but will have time to perform most of the fieldwork as of an interim date, April 30, 2021. After the accounts are tested at the interim date, Bell will also perform substantive procedures covering the transactions of the final two months of the year. This will be necessary to extend Bells conclusions to the balance sheet date.

Describe the factors Bell should consider before applying substantive procedures to Dynamics balance sheet accounts at April 30, 2021.

a.

b.

c.

d.

e.

For accounts tested at April 30, 2021, describe how Bell should design the substantive procedures covering the balances as of June 30, 2021, and the transactions of the final two months of the year.