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If a client has a 5 year loan agreement with its bank, would the audit team be more likely to file a copy of this agreement in the current year workpapers or in the permanent file? able The auditors should establish an understanding with the client regarding the terms of the audit engagement, including the expected form and content of the reports to be issued by the auditors and the fee arrangements. Name this document. Substantive tests consist of either tests of detail or analytical reviews. Explain what these two types of tests are and give an example of each