A primary objective of analytical procedures used in the final review stage of an audit is toa. Identify account balances that represent specific risks relevant to the audit.b. Gather evidence from tests of details to corroborate financial statement assertions.c. Detect fraud that may cause the financial statements to be misstated.d. Assist the auditor in evaluating the overall financial statement presentation.

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Q: Analytical procedures consist of evaluating financial information by studying financial and…

A:

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Q: analytical procedures

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Q: Substantive analytical procedures are performed by auditor: To identify and assess detection risk To…

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Q: factor to be considered by an auditor while performing analytical procedures?

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Q: Which of the following types of audit evidence generally is the most reliable

A: Answer:   Option B.

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Q: analytical procedures

A: First option is correct because analytical procedures assist to identify the risk by comparing the…

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Q: An auditor has completed the risk assessment process for the firm and is evaluating the results. If…

A:

Q: In using the high-low method, the data which relate to company’s operation during abnormal situation…

A: Solution: In using the high-low method, the data which relate to company’s operation during abnormal…

Q: In auditing, ____________ is the process of identifying and assessing the risks of material…

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Q: Which of the following is least likely to be required on an audit?    Evaluate the business…

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Q: ment of materiality guides audit planning and testing   materiality is used to guide the validity…

A: To find the incorrect option as,

Q: To allocate the preliminary estimate of materiality to the accounts, the auditor might consider A.…

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Q: Which of the following risk types increase when an auditor performs substantive analytical audit…

A: Analytical Audit Procedures: Analytical procedure is a method by which standard balances are…

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Q: Discuss the advantage and disadvantage of balance sheet audit. Also state the auditors position in…

A: Answer:-  Balance sheet audit:- The correctness of the data in a company's balance sheet is assessed…

Q: b. Existence and completeness objectives. c. Existence, realisable-value and accuracy o

A: The right answer is c. Existence, realizable-value and accuracy objectives.

Q: Please explain the audit process in detail, paying particular attention to the audit plan's notion…

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Q: Define the term "materiality" as it pertains to financial reporting. What is the difference between…

A: Financial Statement Materiality:- The effect of omissions and misstatements of information in the…