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Auditors often perform procedures such as observation of the taking of physical inventories or confirmation of accounts receivable as of a date that is before the balance-sheet date. This proposed Statement provides guidance on the factors auditors should consider before applying such substantive tests at interim dates.This proposed Statement also provides guidance on auditing procedures that should be applied to provide a reasonable basis for extending the audit conclusions at the interim date to the balance-sheet date.
Auditing -- Decision making; Accounts receivable -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Proposed statement on auditing standards : Timing of substantive tests ;Timing of substantive tests" (1982). Statements of Position. 452.