True or false: auditors should resist using analytical procedures during the substantive testing of balances.

1 answer:

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The statement is False, which means during the in-depth examination of balances or the substantive testing, the auditors should refrain from utilizing analytical techniques

<h3>How does substantive testing work?</h3>

A technique used by auditors called substantive testing examines a company’s financial statements, balances, accounts, and supporting documents for any errors or serious misstatements.

Substantive testing validates a company’s assertion that its financial records are true, correct, and valid by providing proof that no errors exist.

The auditor can establish a general opinion regarding the financial statements of the company using this conventional auditing technique.

According to the circumstance, an auditor may utilize a variety of different auditing techniques and tests, including substantive testing.

Examine board minutes from the board of directors to confirm that agreed dividends are actually paid. Contact suppliers to verify the accuracy of the account's payable amounts.

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