Final answer:
The main goal of tests of details of transactions as substantive procedures in an audit is to detect material misstatements in financial statements by verifying the accuracy and validity of recorded transactions.
Step-by-step explanation:
The primary objective of tests of details of transactions performed as substantive procedures is to detect material misstatements in the financial statements. Substantive procedures, including tests of details, are core components of an audit process designed to gather evidential matter regarding the accuracy, completeness, and validity of transactions that affect the financial statements. By performing these tests, auditors assess whether the financial statements are free from material misstatement, whether due to fraud or error.
Tests of details of transactions serve to directly check the monetary amounts of transactions and the disclosures within the financial statements. They are distinct from compliance tests that focus on the operating effectiveness of internal control procedures. Thus, the objective of these substantive procedures is more aligned with the discovery of material errors or fraud in the financial statements rather than evaluating the accounting system's reliability or the effectiveness of management's policies and procedures.