Substantive tests must be designed to tests specific audit objectives.
REQUIRED: For the following specific audit procedures, indicate the assertion that is being tested. Use the following letters, placing your response in the space provideD.
-Examine check register for the month following year end for disbursements
relating to the audit period.
A)Existence or occurrence
B)Completeness
C)Valuation or allocation
D)Rights and obligations
E)Presentation and disclosure

Question

Quizplus · Accepted Answer

Examining the check register for the month following year-end for disbursements relating to the audit period tests the completeness assertion. This procedure ensures that all relevant transactions have been recorded in the correct accounting period.

Substantive Tests Must Be Designed to Tests Specific Audit Objectives