Auditors usually perform relatively limited substantive analytics for cash accounts and instead focus on substantive tests of details.

Question

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Auditors do not rely solely on substantive analytics for cash accounts as there may be a higher risk of fraud or error. Therefore, they typically perform substantive tests of details such as reviewing bank statements and reconciliations to ensure the accuracy and completeness of cash account balances.

Auditors Usually Perform Relatively Limited Substantive Analytics for Cash Accounts