CHAPTER 8

Substantive Testing

In this chapter we focus on and address the following issues:

•Guidelines given to auditors on how to evaluate audit evidence (in the United States and internationally)

•Substantive procedures that should be used to find audit evidence

•Use of substantive audit procedures for obtaining audit evidence in the United States (as required by the Public Company Accounting Oversight Board [PCAOB]) and internationally (as required by the International Standards on Auditing [ISA])

•Implications for researchers, practitioners, and students with respect to the differences in these procedures

Introduction

The work of an auditor entails using audit tests to find appropriate audit evidence regarding the assessed risks of material ...

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