What is the difference between compliance testing and
substantive testing?
- 3 Answers
- 47970 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / labstery
In compliance testing you gather evidence with the objective
of testing an organization's compliance with control
procedures, eg. when you run a report to verify that certain
controls had been applied over a database table.
In substantive testing, you gather evidence to evaluate the
integrity of data, a transaction or other information. eg.
you run a report to verify if the amount paid to vendors is
accurate.
| Is This Answer Correct ? | 59 Yes | 7 No |
Answer / manojs
compliance testing are methods designed to obtain the
assurance of internal controls systems whether its is
effective.
substantive testin are the methods designed to know the
accuracy of the accounting systems
| Is This Answer Correct ? | 34 Yes | 7 No |
Answer / amit
In compliance testing you gather evidence with the objective
of testing an organization's compliance with control
procedures, eg. when you run a report to verify that certain
controls had been applied over a database table.
In substantive testing, you gather evidence to evaluate the
integrity of data, a transaction or other information. eg.
you run a report to verify if the amount paid to vendors is
accurate.
| Is This Answer Correct ? | 24 Yes | 2 No |
What Is Social Audit?
State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100
What are the objectives of internal audit?
0 Answers Ernst Young, Thomson Reuters,
How soon can you make yourself available for employment with us
WHAT IS AP/AR RECONCILIATION PROCESS? WHAT YOU DO IN AP/AR RECONCILIATION?
audit papers
HOW TO DO LEDGER SCRUTINY?
Please give me a tamil answer to (i) What is Tds (ii) How many percentage to calculate like this below method to give answer Particulars Amount (%)
what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?
If any expenses accrued for the F.B.T paid quarter in the next relevant quarter, can we post the expenses in the next quarter?
What do you know about Ernst & Young ?
When we use D form?
Audit 
