Home > Term: dual-purpose test
dual-purpose test
An audit procedure that consists of both "tests of control" (TOC) and "substantive tests" (STOT) that involve a re-performance of client procedures to determine the occurrence rate of errors in a financial statement. A TOT looks for evidence that the client verification procedure was effective and a STOT looks for evidence that the transactions were accurate.
- Part of Speech: noun
- Industry/Domain: Accounting
- Category: General accounting
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- anton.chausovskyy
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