Substantive Testing and Cycle Testing. briefly describe each separately

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Substantive Testing and Cycle Testing. briefly describe each separately

Substantive Testing and Cycle Testing.

briefly describe each separately

business accounting

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Answer 1

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Substantive testing is an audit procedure that examines the financial statements and supporting documentation to see if they contain errors. These tests are needed as evidence to support the assertion that the financial records of an entity are complete, valid, and accurate.

An audit cycle is the accounting process that auditors employ in the review of a company's financial information. The audit cycle includes the steps that an auditor will take to ensure that the company's financial information is valid and accurate before releasing any financial statements.

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Substantive Testing and Cycle Testing. briefly describe each separately

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