The six steps involved in performing analytical procedures does not include:
A) developing an expectation range.
B) analyzing data and identify significant differences.
C) performing the calculations using industry data.
D) Investigating significant unexpected differences.
E) identifying calculations and comparisons to be made.

Question

Quizplus · Accepted Answer

Analytical procedures involve comparing financial data to expectations developed from a company's information, industry standards, or other sources. Using industry data is not a step in performing analytical procedures; it's a source that might help in developing an expectation range.

The Six Steps Involved in Performing Analytical Procedures Does Not