1- What is a subsequent (cut-off) bank statement? How is it used by auditors?

2- What is the common audit approach for auditing consolidated financial statements?  List two common substantive procedures performed during an audit of consolidated financial statements.

3- Why are analytical procedures not often useful when auditing the cash balance?

4- What is the purpose of payables cut-off testing? 

5- What audit approach is generally used for property, plant, and equipment? Why?

6- Briefly define 1) an error and 2) a judgemental misstatement. Provide an example of both an error and a judgemental misstatement that could affect the balance of property, plant and equipment.