3C1 - Perform Overall Analytic Procedures

During substantive procedures, performing analytical procedures satisfies which primary audit objective: Cutoff Accuracy Existence Completeness 4

Explain how analytical procedures are useful in: (1) The risk assessment stage of the audit. (2) The substantive procedures stage of the audit. (3) Near the end of the audit.

Plz explain in detail

2. In the element of audit findings, this refers to what the auditor discovered as a result of applying auditing procedures. Group of answer choices Condition Findings Cause Effect

Which of the following best describes audit data analytics? Multiple Choice use of the financial statements as the primary source of data use of financial data to analyze reliability of audit evidence use of evidence to support the audit opinion in the audit report use of data visualization to identify patterns and anomalies 馬

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

A(n) ________ is the detailed instruction that explains the audit evidence to be obtained during the audit Select one: a. audit program b. audit procedure c. audit assertion d. audit objective

The audit process is the sequence of different activities involved in an audit. Identify the phase in the audit that is captured by this primary objective:   1. To assess and evaluate the quality of services delivered by the engagement team. *   2. To assess the different risks associated with the audit to determine the nature, timing and extent of further audit procedures necessary to be performed. *     3. To assist the auditor in assessing conclusion reached whether it is consistent with evidence gathered. *   Pre-engagement   Audit planning   Consideration of internal controls   Evidence-gathering (substantive testing)   Completing the audit   Issuance of the audit report   Post-audit responsibilities

Which of the following is NOT a task performed in the audit planning phase? a. reviewing an organization’s policies and practicesb. determining the degree of reliance on controls c. reviewing general controls d. planning substantive testing procedures