Auditors use analytical procedures and tests of details of balances to satisfy planned detection risk.

Question

Quizplus · Accepted Answer

Auditors use both analytical procedures and tests of details of balances to obtain sufficient and appropriate audit evidence to support their opinion on the fairness of the financial statements. The combined use of these procedures allows the auditor to reduce planned detection risk to an acceptable level.

Auditors Use Analytical Procedures and Tests of Details of Balances