Completeness
1. tracing (start from source docs to financial statements)
2. analytical review procedures (how certain items might be omitted from account balance)
3. observation (processes & procedures)
Cutoff
1. cutoff procedures
Valuation, Allocation & Accuracy
1. Inspection (documentation supporting transactions)
2. footing & cross footing
3. independent recalculation
4. reconciliation (schedules to GL line items)
Existence & Occurrence
1. confirmation (with 3rd parties)
2. observation, inspection & examination (assets, processes & procedures)
3. vouching (financial statements to supporting docs)
Rights & Obligations
1. inspection (documentation supporting transactions, inspection of contracts)
Understandability & Classification
1. inspection of documentation supporting transactions
2. review of related disclosures for GAAP compliance
3. inquiry of management (regarding disclosures)