Analytical procedures
A) are only done during the planning of the audit and when performing detailed tests.
B) performed during the detailed testing phase are done before tests of details of balances.
C) performed during the detailed testing phase are done before the balance sheet date.
D) are performed only on accounts receivable, not on the entire sales and collection cycle.

Question

Quizplus · Accepted Answer

Analytical procedures are performed during the planning phase and detailed testing phase of the audit. In the detailed testing phase, they are done before tests of details of balances, which means they are not only done before the balance sheet date but also after it. Analytical procedures can be performed on various accounts, not just accounts receivable.

Analytical Procedures