Which one of the following would be done as part of a review engagement?
A) An evaluation of internal control
B) Analytical procedures
C) Tests of details of balances
D) All of the above

Question

Quizplus · Accepted Answer

A review engagement is performed to provide limited assurance on a company's financial statements, and involves performing analytical procedures and making inquiries on financial statement items. Analytical procedures involve the evaluation of financial information through the analysis of plausible relationships and trends, and do not involve performing tests of details of balances or an evaluation of internal control. These procedures are less extensive than those undertaken during an audit. Therefore, the best choice for this question is B, which is Analytical procedures, since tests of details of balances and evaluation of internal control are not typically performed during a review engagement.

Which One of the Following Would Be Done as Part