Question
Substantive Procedures Paragraph 18 of AU-C Section 330 reads as follows: Irrespective of the assessed risks of material misstatement, the auditor should design and perform
Substantive Procedures Paragraph 18 of AU-C Section 330 reads as follows:
Irrespective of the assessed risks of material misstatement, the auditor should design and perform substantive procedures for all relevant assertions related to each material class of transactions, account balance, and disclosure.
Required: Give two reasons the preceding is a requirement.
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
8th edition
978-1259569197
