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Substantive procedures (or substantive tests) are those activities performed by the auditor to detect material misstatement at the assertion level. [1]Management implicitly assert that account balances and disclosures and underlying classes of transactions do not contain any material misstatements: in other words, that they are materially complete, valid and accurate.
Analytical procedures include comparison of financial information (data in financial statement) with prior periods, budgets, forecasts, similar industries and so on. It also includes consideration of predictable relationships, such as gross profit to sales, payroll costs to employees, and financial information and non-financial information, for examples the CEO's reports and the industry news.
It serves to guide the auditor on obtaining audit evidence through the application of an appropriate mix of tests of control systems and substantive tests of transaction and balances. It requests the auditor to obtain 'sufficient' and 'appropriate' audit evidence in order to draw reasonable conclusions on which to base the audit opinion.
Substantive test of transactions: evaluate the client's recording of transactions by verifying the monetary amounts of transactions, a process called substantive tests of transactions. For example, the auditor might use computer software to compare the unit selling price on duplicate sales invoices with an electronic file of approved prices as ...
Analytical procedures in magnetostratigraphy, a geophysical technique used for rock dating; Analytical procedures used in statistical geography; Procedures used in environmental systems analysis, describing human impacts on the environment to support decisions and actions aimed at perceived current or future environmental problems
"The interpretation of results of a test or experiment is something else. It is prediction that a specific change in a process or procedure will be a wise choice, or that no change would be better. Either way the choice is prediction. This is known as an analytic problem, or a problem of inference, prediction." [4]
This is a list of statistical procedures which can be used for the analysis of categorical data, also known as data on the nominal scale and as categorical variables. General tests [ edit ]
The nursing process is a modified scientific method which is a fundamental part of nursing practices in many countries around the world. [1] [2] [3] Nursing practise was first described as a four-stage nursing process by Ida Jean Orlando in 1958. [4] It should not be confused with nursing theories or health informatics. The diagnosis phase was ...