Hi, I was going through solved papers of AA and found the two words AGREE and CAST used very frequently in Substantive procedures and due to my bad English its not very clear to me. please help me in explaining the following sentence in simple words. I assume Agree means TALLY if that's right? also what Cast means here? Thanks in adcance
Agree the year-end sales tax liability in the trial balance to the tax return/reconciliation submitted to the tax authority and cast the return / reconciliation
Hi, thanks for your question. Put simply:
Cast - this is a term accountants/auditors which means 'add up' Agree - in this context, means 'confirm the numbers match'
Hope that helps! Best of luck with your studies.
