Which of the following is most correct with respect to the use of analytical procedures? * Analytical procedures may be used in evaluating balances in the testing O phase as long as the auditor also uses them in assessing the going concern assumption. Analytical procedures must be used throughout the audit. Analytical procedures are performed by studying plausible relationships between financial and nonfinancial data. Analytical procedures used in the testing phase of the audit are primarily used to direct an auditor's attention so that the auditor's understanding of the business is improved.

Which of the following is most correct with respect to the use of analytical procedures? * Analytical procedures may be used in evaluating balances in the testing O phase as long as the auditor also uses them in assessing the going concern assumption. Analytical procedures must be used throughout the audit. Analytical procedures are performed by studying plausible relationships between financial and nonfinancial data. Analytical procedures used in the testing phase of the audit are primarily used to direct an auditor's attention so that the auditor's understanding of the business is improved.

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

Which of the following is most correct
with respect to the use of analytical
procedures?
Analytical procedures may be used in
evaluating balances in the testing
O phase as long as the auditor also uses
them in assessing the going concern
assumption.
Analytical procedures must be used
throughout the audit.
Analytical procedures are performed
by studying plausible relationships
between financial and nonfinancial
data.
Analytical procedures used in the
testing phase of the audit are primarily
O used
that the auditor's understanding of the
business is improved.
direct an auditor's attention so

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