Daniel Morency has performed evaluations of financial information and determined whether the fluctuations of his client's salfigurare consistent with other data he has gathered. He has used this information to predict year-end amounts of sales. This is an example of substantive procedurcalled
A) tests of details.
B) computer assisted audit techniques.
C) analytical procedures.
D) none of these.

Question

Quizplus · Accepted Answer

The scenario describes the use of analytical procedures, which involve the comparison of financial information to expectations or benchmarks in order to identify significant fluctuations or relationships that may indicate potential misstatements.Tests of details involve verifying individual transactions or account balances, while computer assisted audit techniques involve using technology tools to improve the efficiency or effectiveness of audit procedures.

Daniel Morency Has Performed Evaluations of Financial Information and Determined