The primary objective of analytical procedures used in the final review stage of an audit is to
A)obtain evidence from details tested to corroborate particular assertions.
B)identify areas that represent specific risks relevant to the audit.
C)assist the auditor in looking for potential material misstatements.
D)satisfy doubts when questions arise about a client's ability to continue operations.

Question

Quizplus · Accepted Answer

The primary objective of analytical procedures used in the final review stage is to assist the auditor in looking for potential material misstatements. This involves analyzing financial trends and relationships to detect any significant fluctuations or anomalies that may indicate a potential misstatement. It is an important part of the auditor's overall risk assessment process and helps to provide reasonable assurance that all material misstatements have been detected before issuing an opinion on the financial statements.

The Primary Objective of Analytical Procedures Used in the Final