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7 October, 12:57

One type of substantive procedures is called: a. Analytical review b. Financial review c. Test of accounts d. Test of deletions

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  1. 7 October, 13:16
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    The correct answer is letter "A": Analytical review.

    Explanation:

    Substantive procedures are those steps auditors take to confirm the accuracy of the Financial Statements being checked. This activity aims to confirm if there are transactions recorded incorrectly in a company's books. Some examples of substantive procedures are bank account confirmation, observation of the firm's physical inventory, or analytical review of the assets, liabilities, and revenue.
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