AUDIT PROCEDURES ARE THE METHODS OR TECHNIQUE THE AUDITOR USES TO GATHER AND EVALUATE AUDIT EVIDENCE. THE AUDITORS PERFORMS AUDIT PROCEDURES TO ACCOMPLISH THE FOLLOWING OBJECTIVES :
1. To obtain an understanding of the entity and its environment, including its internal control, to asses the risk of material misstatement at the financial statement level and at the level (risk assessment procedures).
2. To test the operating effectiveness of control in preventing or detecting material misstatement at the assertions level (test of control). Test of control are required when the auditor plans to assess control risk below the maximum and below the maximum and develop an audit strategy that assumes the operating effectiveness of internal control.
3. To support an assertions or detect material misstatement at the assertions level (substantive test). The auditor plans and performs substantive test that are responsive to assessed risk.