Analytical procedures used in planning an audit should focus on identifying:
A)material weaknesses in internal control.
B)the predictability of financial data from individual transactions.
C)the various assertions that are embodied in the financial statements.
D)areas that may represent specific risks relevant to the audit.

Question

Quizplus · Accepted Answer

Analytical procedures used in planning an audit should focus on identifying areas that may represent specific risks relevant to the audit. This helps the auditor to plan the audit procedures effectively and efficiently. Options A and C are relevant, but they are not the primary focus of analytical procedures used in planning an audit. Option B may be relevant, but it is not as important as identifying areas of specific risk.

Analytical Procedures Used in Planning an Audit Should Focus on Identifying