Best Practices for Effective & Efficient Auditing: Performing Tests of Controls and Substantive Tests  

Best Practices for Effective & Efficient Auditing is a four-part series developed to help experienced auditors strengthen engagement quality while improving efficiency. Each session may be taken independently or as part of the full series. Topics include:

1. Planning and Risk Assessment – October 30th
2. Designing Audit Procedures – November 6th
3. Performing Tests of Controls and Substantive Tests – November 13th
4. Evaluating and Concluding – November 20th

Performing Tests of Controls and Substantive Tests focuses on executing the audit plan through effective testing. Strong planning is realized by selecting the right mix of procedures and applying them with the appropriate scope and depth.

This session emphasizes practical approaches to applying tests of controls and substantive procedures, determining when to rely on controls, and performing efficient, high-quality testing. The session aligns with current auditing standards, including SAS Nos. 134-149.

Major topics covered in this session include:

• Determining when tests of controls are needed
• Designing and performing tests of controls
• Applying substantive procedures to assessed risks
• Distinguishing tests of controls, tests of details, and analytical procedures
• Determining the nature, timing, and extent of testing
• Executing procedures efficiently while obtaining sufficient audit evidence
• Evaluating testing results and determining whether additional procedures are needed

Who should attend: Senior audit professionals responsible for executing audit plans through tests of controls and substantive procedures, including determining the nature, timing, and extent of audit testing.