Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 260

The auditor’s substantive procedures should include:

 Performing tests directed to the relevant assertions related to each material class of transactions, account balance, and disclosures (AU-C 330.18),

 Agreeing the financial statements, including their accompanying notes to the underlying accounting records, and

 Examining material journal entries and other adjustments made during the course of preparing the financial statements.

(AU-C 330.21)

The auditor is required to use external confirmation procedures for accounts receivable, except when the account balance is immaterial, external confirmations would be ineffective, or the assessed level of risk at the relevant assertion level is low and other procedures address the risk. (AU-C 330.20)

Section 315 describes significant risks and how the auditor identifies significant risks. With regard to performing procedures related to significant risks, the auditor should perform tests of details or a combination of tests of details and substantive analytical procedures. That is, the auditor is precluded from performing only substantive analytical procedures in response to significant risks. (AU-C 330.22)