Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 268

How long can the remaining period be? Section 330 offers only the general observation that the potential for increased audit risk tends to become greater as the remaining period becomes longer.

In practice, many auditors believe the remaining period should not exceed three months (i.e., for a December 31 audit, testing certain balances as of September 30). Another rule of thumb is to consider a remaining period of one month as creating a relatively low increase in audit risk. Ordinarily, if the remaining period is one month, substantive tests to cover the remaining period can be restricted to tests such as:

 Comparison of the account balance at year-end with the balance at the interim date to identify unusual amounts or relationships.

 Investigation of unusual amounts or relationships.

 Application of other analytical procedures to the year-end balance.

Naturally, as with any rule of thumb, the auditor should be aware that in specific circumstances, factors may increase audit risk, and the principal substantive tests will have to be applied at year-end.