Analytical procedures issued in the planning stage of an audit, generally_______ Select one: a. All of the others b. Directs attention to potential risk areas c. Helps to determine the nature, timing and extent of other audit procedures. d. Indicates important aspects of business

Analytical procedures issued in the planning stage of an audit, generally_______ Select one: a. All of the others b. Directs attention to potential risk areas c. Helps to determine the nature, timing and extent of other audit procedures. d. Indicates important aspects of business

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Analytical procedures issued in the planning stage of an audit, generally_______ Select one:

All of the others

Directs attention to potential risk areas

Helps to determine the nature, timing and extent of other audit procedures.

Indicates important aspects of business

Definition Definition Methods and techniques used by the auditor to gather the appropriate evidence so that a true and fair judgment can be made on the quality of the financial statements of the client. Audit procedures are developed after determining audit objectives, scope, approach, and risk assessment.

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