As long as analytical procedures are performed during the planning and testing phase of the audit, it is not necessary for the auditor to perform analytical procedures during the completion phase of the audit.

Question

Quizplus · Accepted Answer

Analytical procedures should be performed during both the planning and testing phase as well as during the completion phase of the audit. This helps the auditor to ensure that there are no material misstatements in the financial statements and also provides additional assurance over the overall financial information. Additionally, any unexpected fluctuations or changes in account balances can be identified and addressed during the completion phase.

As Long as Analytical Procedures Are Performed During the Planning