essentially describe what materiality means in the context of the audit.

Q: What are the benefits of subtantive test of transactions in auditing?

A: A sort of audit method called a substantive test of transactions is used to assess the precision and…

Q: What are the stages of an audit from beginning to end.

A: The Auditing is an independent examination of financial statements of an organization whether Profit…

Q: how key audit matters affect the model of the audit report?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: What are analytical procedures? Describe how they can be used as substantive tests in an audit

A: Analytical procedures are the procedure used by auditor at planning and execution stage to analysis…

Q: What are the differences between an external audit and an internal audit?

A: Internal audit is performed within organization by the auditor appointed by management.

Q: Explain the factors that influence the reliability of audit evidence.

A: Audit evidence is all the information that the auditor uses in arriving at the conclusions on which…

Q: Explain substantive tests of transactions and the meaning of this term?  How does it apply to…

A: The correctness and completeness of financial transactions that take place within a corporation are…