In which stage(s)of an audit can analytical procedures be performed?
A) in conjunction with tests of transactions and tests of details of balances
B) in the completion stage
C) in the planning stage
D) all of the above

Question

Quizplus · Accepted Answer

Analytical procedures can be used at all stages of an audit: during the planning stage to understand the entity and its environment, in conjunction with tests of transactions and tests of details of balances to identify risks and areas needing further attention, and in the completion stage to assist in the overall conclusion and assessment of the financial statements as a whole.

In Which Stage(s)of an Audit Can Analytical Procedures Be Performed