During which of the following phases of the audit are analytical review procedures required by the auditing standards?
A)The planning phase of the audit.
B)The final review phase of the audit.
C)Both the planning and final review phases of the audit.
D)Performance of tests of controls.

Question

Quizplus · Accepted Answer

Analytical review procedures are required by the auditing standards during both the planning and final review phases of the audit. These procedures are performed to evaluate the overall financial information of the entity and to identify any unusual fluctuations, relationships, or trends that may indicate potential misstatements or errors in the financial statements. It is important to perform these procedures at both stages to ensure that any potential issues are identified and addressed in a timely manner. The performance of tests of controls is a separate phase of the audit that involves testing the effectiveness of internal controls over financial reporting.

During Which of the Following Phases of the Audit Are