For audits of financial statements made in accordance with generally accepted auditing standards, the use of analytical procedures is required to some extent.
A)As a substantive test: Yes; In the final review stage: Yes.
B)As a substantive test: Yes; In the final review stage: No.
C)As a substantive test: No; In the final review stage: Yes.
D)As a substantive test: No; In the final review stage: No.

Question

Quizplus · Accepted Answer

Analytical procedures are required in the final review stage of an audit to assist the auditor in assessing the conclusions reached and evaluating the overall financial statement presentation. They are not required as substantive tests, although they may be used as such.

For Audits of Financial Statements Made in Accordance with Generally