Which of the following best describes the role of analytical procedures near the end of theaudit engagement?a. To identify possible deficiencies in the client’s internal control over financial reporting.b. To identify accounts that appear to be misstated with the intention of planning thenature, timing, and extent of other substantive procedures.c. To gather evidence to support one or more assertion(s) related to the account balance orclass of transactions.d. To provide an overall review of the financial information and assessment of the adequacy of evidence gathered during the audit engagement.
Which of the following best describes the role of analytical procedures near the end of theaudit engagement?a. To identify possible deficiencies in the client’s internal control over financial reporting.b. To identify accounts that appear to be misstated with the intention of planning thenature, timing, and extent of other substantive procedures.c. To gather evidence to support one or more assertion(s) related to the account balance orclass of transactions.d. To provide an overall review of the financial information and assessment of the adequacy of evidence gathered during the audit engagement.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following best describes the role of analytical procedures near the end of the
audit engagement?
a. To identify possible deficiencies in the client’s internal control over financial reporting.
b. To identify accounts that appear to be misstated with the intention of planning the
nature, timing, and extent of other substantive procedures.
c. To gather evidence to support one or more assertion(s) related to the account balance or
class of transactions.
d. To provide an overall review of the financial information and assessment of the adequacy of evidence gathered during the audit engagement.
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