ASA 520 (ISA 520) indicates that the extent of reliance on analytical procedures depends on which of the following?
A) materiality.
B) accuracy of predicted results.
C) inherent and control risks.
D) all of the above.

Question

Quizplus · Accepted Answer

ASA 520 (ISA 520) suggests that the extent of reliance on analytical procedures in an audit depends on several factors, including materiality, the accuracy of predicted results, and the assessment of inherent and control risks. These factors collectively influence the auditor's decision on how much to rely on analytical procedures to achieve audit objectives.

ASA 520 (ISA 520) Indicates That the Extent of Reliance