How do Analytical Procedures assist the auditor?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How do Analytical Procedures assist the auditor?
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Step 1
Analytical procedures:
Analytical procedures are the examination of the financial statements. The examination is done on the basis of the relationship established among the financial and non-financial data of the client. The auditor first, establishes a reliable relationship between two or more business data then use the established relationship in the evaluation of the financial statements of the client.
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