Why Should an Auditor Not Rely on Substantive Testing to the Exclusion

question 4

Essay

Why should an auditor not rely on substantive testing to the exclusion of testing internal controls?

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Definitions:

Equal

Having the same value, quantity, measure, or significance in comparison.

Set of Data

A collection of related pieces of information, typically measurements or observations, that are analyzed to derive a conclusion.

Mean

The mean of a number set, found by summing all the numbers together and then dividing by the total number of values in the set.

Equal

Denotes being the same in quantity, size, degree, or value.