Analytical review procedures are required by GAAS for which of the following?
A)the planning stages of the audit.
B)the final phase of the audit.
C)both the planning and final phases of the audit.
D)performance of tests of controls.

Question

Quizplus · Accepted Answer

Analytical review procedures are required by GAAS in both the planning and final phases of the audit. These procedures involve analysis of financial data to identify any potential discrepancies or unusual trends that may indicate errors, misstatements or fraud. By performing analytical review procedures, auditors can gain valuable insights into the financial health of a company and evaluate the reliability of financial statements. It is not related to the performance of tests of controls.

Analytical Review Procedures Are Required by GAAS for Which of the Following