Identify the Types of Substantive Procedures Used by the Auditor

question 150

Essay

Identify the types of substantive procedures used by the auditor to test accounts payable and accrued expenses.
Also state whether the substantive procedures could be used as a test of controls or a dual-purpose test.

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Definitions:

Personal Causation

An individual's perception of their capability to influence or produce effects in their life.

Extrinsic Motive

An external incentive for behavior, such as rewards or punishments, that influences one's actions.

Self-actualized Person

An individual who has realized and fulfilled their potential, achieving self-fulfillment and reaching the highest level of Maslow's hierarchy of needs.

Time Competence

The ability to live in the present while utilizing past experiences and considering future consequences in decision-making.