Subject Auditing

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Select the appropriate terms from the list provided to the definitions seen below: 1. Tests that support the correctness of an account ending balance. 2 3. Analytical procedures Dual purpose tests Misstatements Roll-forward procedures Tests of details of balances Tracing Vouching Tracking a source document back to the underlying accounting records. Evaluations of financial information made by a study of plausible relationships among both financial and non-financial data. Also encompass the investigation of identified fluctuations and relationships that are inconsistent with other relevant information or deviate significantly from predicted amounts. Procedures performed during the period between an interim date and year end to provide sufficient and appropriate audit evidence to base conclusions on as at year end when substantive procedures are performed at an interim date. Procedures that provide evidence for both tests of controls and substantive procedures. 4. 5. 6. Difference between the amount, classification, presentation, or disclosure of a reported financial statement item and the amount, classification, presentation, or disclosure that is required for the item to be in accordance with the applicable financial reporting framework. Can arise from error or fraud. Taking a balance or transaction from the underlying accounting records and verifying it by agreeing the details to supporting evidence outside the company's accounting records. 7