QS Study

Audit procedure: Specific acts performed as the auditor gathers evidence to determine if specific assertions are beignet. They are used by auditors to determine the quality of the financial information being provided by their clients.

Audit procedures may be dissimilar from customer to customer, and time to time. This is because different client’s financial statement might have different risks.

An objective of audit procedure are eves below-

A set of audit procedure prepared to test assertions for components of financial statements.

  1. Obtain an understanding of the entity and its environment.
  2. Test the operating effectiveness of controls in preventing or detecting and correcting material misstatement at the assertion level.
  3. Such audit procedure is referred to as substantive procedure substantive procedure includes a test of details of transactions account balances and disclosures.