9. Which of the following is true about analytical procedures? Analytical proced
ID: 2337067 • Letter: 9
Question
9. Which of the following is true about analytical procedures? Analytical procedures are used in planning, as a substantive test o specific accounts, and in the final review of the audited financial statements. (a) (b) Performing analytical procedures results in the most reliable form of evidence. (c) Analytical procedures are used for planning, but they should not be used to obtain evidence as to the reasonableness of specific account balances Analytical procedures are tests of controls used to evaluate the quality of a client's internal control structure (d)Explanation / Answer
9. The following is true about analytical procedures:
a) Analytical procedures are used in risk planning, as a substantive tests of specific accounts, and in the final review of the audited financial statements.
Analytical procedures are one of many financial audit processes which help an auditor understand the client's business and changes in the business, and to identify potential risk areas to plan other audit procedures. Analytical procedures include comparison of financial information (data in financial statement) with.
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