Section 3: 30–40%A9
Substantive Procedures
Exam Insight
Substantive procedures are the core of audit fieldwork. The CPA exam tests whether candidates can match the right substantive procedures to the right assertions and understand when substantive procedures are required regardless of control effectiveness.
What AICPA Wants You to Know
- 1Distinguish between tests of details and substantive analytical procedures
- 2Match substantive procedures to financial statement assertions
- 3Understand when substantive procedures are required for significant risks
- 4Explain the five management assertions for account balances, transactions, and disclosures
- 5Apply substantive procedures to key balance sheet and income statement accounts