In an audit of financial statements, substantive tests are audit procedures that: | Faculties

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Ravi Chauhan

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📊 Auditing

Q. In an audit of financial statements, substantive tests are audit procedures that:

(A) may be eliminated for an account balance under certain conditions
(B) are designed to discover significant subsequent events
(C) will increase proportionately when the auditor decreases the assessed level of control risk
(D) may be test of transactions, test of balance and analytical procedures

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✅ Correct Answer: (D) may be test of transactions, test of balance and analytical procedures

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