Analytical procedures are:
A)never required.
B)required for planning, substantive testing and overall review of the financial report.
C)required for planning and overall review of the financial report.
D)required during planning only.

Question

Quizplus · Accepted Answer

Analytical procedures are required during the planning phase to understand the entity and its environment and during the overall review stage of the audit to assist in forming an overall conclusion on the financial report. They are not mandated for substantive testing but can be used at the auditor's discretion.

Analytical Procedures Are