Which of the following is not a benefit of analytical procedures?
A) Assists in understanding a client's business and identifying areas of potential risk.
B) Enables the auditor to review the financial and non-financial information of a client.
C) May reduce the level of detailed audit testing if the control system surrounding the reliability of the information is strong.
D) Provides adjustments to error levels during tests of control.
Correct Answer:
Verified
Q24: Analytical procedures are:
A)never required.
B)required for planning, substantive
Q25: Which of the following actions is the
Q26: An audit program should be designed for
Q27: Analytical procedures that are required in all
Q28: Which of the following procedures is not
Q30: An example of an analytical procedure is
Q31: Time budgets on audit engagements are not
Q32: One reason why the independent auditor performs
Q33: In applying analytical procedures, the identification of
Q34: Analytical procedures may be classified as being
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