Substantive analytical procedures performed during the testing phase of the audit
A) are required under generally accepted auditing standards.
B) are always done independently from other audit procedures.
C) are used as a substantive test in support of account balances.
D) do not need to be documented in the working papers.

Question

Quizplus · Accepted Answer

Substantive analytical procedures are analytical procedures used as a substantive test in support of account balances. While they are not always required by auditing standards, they are often used due to their effectiveness in detecting material misstatements. They are typically performed in conjunction with other audit procedures and are documented in the working papers.

Substantive Analytical Procedures Performed During the Testing Phase of the Audit