Analytical procedures
A) performed during the audit planning phase generally use aggregated data at a high level.
B) are never performed during the testing phase of an audit.
C) are declining in importance as a type of audit evidence.
D) performed during the audit planning stage help the auditor take a final objective look at the audited financial statements.

Question

Quizplus · Accepted Answer

Analytical procedures are generally performed during the planning phase of an audit and use aggregated data at a high level to help the auditor assess the reasonableness of financial statement balances and identify potential areas of risk. They are not typically performed during the testing phase of the audit and remain an important type of audit evidence. They help the auditor take a final objective look at the audited financial statements, but this is not their sole purpose.

Analytical Procedures