A)There are four important purposes of analytical procedures.Identify each of these four purposes and for each purpose give a specific example of an analytical procedure that an auditor might perform.B)Identify each of the five major types of analytical procedures and give an example of each.C)One purpose of performing analytical procedures in the planning phase of an audit is to assess the client's financial condition.Explain how the assessment of a client's financial condition can affect the auditor's decisions concerning evidence accumulation in later phases of the audit.

Question

Quizplus · Accepted Answer

The Answer of A)There are four important purposes of analytical procedures.Identify each of these four purposes and for each purpose give a specific example of an analytical procedure that an auditor might perform.B)Identify each of the five major types of analytical procedures and give an example of each.C)One purpose of performing analytical procedures in the planning phase of an audit is to assess the client's financial condition.Explain how the assessment of a client's financial condition can affect the auditor's decisions concerning evidence accumulation in later phases of the audit.

A)There Are Four Important Purposes of Analytical Procedures