Determining Key Audit Matters

64.Substantive audit evidence
Audit evidence obtained through substantive audit testing procedures, including for
example:
 Physical observation or inspection of assets (such as inventory or property, plant
and equipment);
 Examination of records to support balances and transactions;
 Obtaining confirmations from third parties (for example the banks it uses);
 Checking elements of the financial statements by comparison to relevant external
third party information; and
 Checking calculations.