When planning the audit procedures related to long-lived assets, the auditor is required to perform preliminary analytical procedures.

Name: When planning the audit procedures related to long-lived assets, the auditor is required to perform preliminary analytical procedures.
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Question

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According to auditing standards, preliminary analytical procedures must be performed in the planning phase of auditing long-lived assets to identify potential material misstatements.

When Planning the Audit Procedures Related to Long-Lived Assets, the Auditor