The purpose of analytical procedures at the completion of the audit includes all of the following except:
A) revising the audit plan.
B) considering overall reasonableness of the financial statements.
C) reviewing adequacy of evidence gathered to investigate unusual fluctuations.
D) recalculating some of the ratios examined during audit planning.

Question

Quizplus · Accepted Answer

The purpose of analytical procedures at the completion of the audit is mainly to evaluate the financial information presented in the financial statements and assess the overall reasonableness of the financial statements. These procedures help the auditor detect any potential material misstatements or inconsistencies that may need further investigation. While revising the audit plan may be necessary based on the findings during analytical procedures, it is not the primary purpose of these procedures.

The Purpose of Analytical Procedures at the Completion of the Audit