[The following paragraph was effective for audits of fiscal years ending on or after November 15, 2004, for accelerated filers, and on or after July 15, 2005, for all other issuers. It was amended, effective for audits of fiscal years beginning December 15, 2010. See PCAOB Release No. 2010-004
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The auditor's reliance on substantive tests to achieve an audit objective related to a particular assertion fn 1 may be derived from tests of details, from analytical procedures, or from a combination of both. The decision about which procedure or procedures to use to achieve a particular audit objective is based on the auditor's judgment on the expected effectiveness and efficiency of the available procedures. For significant risks of material misstatement, it is unlikely that audit evidence obtained from substantive analytical procedures alone will be sufficient.