Analytical procedures are used in the overall review for all of these reasons except:
A)to identify contingent liabilities.
B)to corroborate conclusions formed during the audit.
C)to gain assurance that the company will remain a going concern.
D)to assist in arriving at the overall conclusion that the financial information is consistent with the knowledge of the business.

Question

Quizplus · Accepted Answer

Analytical procedures are not typically used to identify contingent liabilities. They are more focused on evaluating financial information and trends to corroborate conclusions, assess going concern, and ensure consistency with business knowledge.

Analytical Procedures Are Used in the Overall Review for All