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Shortcut For Substanive Procedures

The document provides keywords for substantive procedures used in audit and assurance, including verbs like calculate, select samples, agree, recalculate, discuss, inspect, obtain breakdowns, review disclosures, obtain confirmations, compare amounts, and trace items from documents.

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29 views1 page

Shortcut For Substanive Procedures

The document provides keywords for substantive procedures used in audit and assurance, including verbs like calculate, select samples, agree, recalculate, discuss, inspect, obtain breakdowns, review disclosures, obtain confirmations, compare amounts, and trace items from documents.

Uploaded by

ShehrozST
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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KnS School of Business Studies

CAF 9 Audit & Assurance


Substantive Procedures – Keywords for students ……….. 😊

Verbs / Starting words for Substantive Procedures


1. Calculate / recalculate the working for …..
2. Select a sample of payments / sales invoices / purchase orders
3. Agree on a sample basis….
4. Recalculate the accuracy of……………………
5. Discuss/ Inquire from Management/ Directors.
6. Inspect / review / verify supporting documentation …
7. Obtain the Breakdown of payment …..
8. Review the post year end cash books/ receipts/payments.
9. Obtain a written representation from Management.
10. Review the disclosures in the F/S….
11. Obtain / Dispatch a Bank confirmation letter/ Debtor confirmation/
Creditors confirmation….
12. Review the F/S to ensure that the disclosure is complete & accurate.
13. Whenever we compare or crosscheck, numbers or values from 02
documents, we use the word

• Agree the balance as per X document from Y document.

14. Whenever we are verifying a number from a list /schedule/document we


use the word Trace / Verify / or Examine………..from XYZ document …

E.g. Trace unpresented cheques from post year end Bank statement. OR
• Verify sales price from the master records
• Verify negative balances from the General ledger

15. Compare the X amount with last year’s Y amount.


16. Obtain the schedule of Fixed Assets /sales.
17. Select a sample of credit notes/ P.O/S.O & agree these ….or ….Trace
these from ……………XYZ document.

pg. 1 Prepared by S.K

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