The Auditing Standards Board has concluded that analytical procedures are so important that they are required during:
A)planning and test of control phases.
B)planning and completion phases.
C)test of control and completion phases.
D)planning, test of control, and completion phases.

Question

Quizplus · Accepted Answer

Analytical procedures are required during the planning and completion phases of an audit to help auditors understand the business and identify areas of potential risk, and to assist in forming an overall conclusion about the financial statements.

The Auditing Standards Board Has Concluded That Analytical Procedures Are