If unusual or unexpected relationships related to long-lived assets are identified during preliminary analytical procedures, the planned audit procedures (tests of controls, substantive procedures) would be adjusted to address the risk of material misstatement.

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This statement is true. If unusual or unexpected relationships related to long-lived assets are identified during preliminary analytical procedures, this could indicate a risk of material misstatement. As a result, the auditor would need to adjust their planned audit procedures (tests of controls, substantive procedures) to address this risk and gather sufficient audit evidence to support their opinion on the financial statements.

If Unusual or Unexpected Relationships Related to Long-Lived Assets Are