Analytical procedures used in the overall review stage of an audit generally include
A) Considering unusual or unexpected account balances that were not previously identified.
B) Performing tests of transactions to corroborate management's financial statement assertions.
C) Gathering evidence concerning account balances that have not changed from the prior year.
D) Retesting control activities that appeared to be ineffective during the assessment of control risk.

Question

Quizplus · Accepted Answer

Analytical procedures used in the overall review stage of an audit generally include considering unusual or unexpected account balances that were not previously identified. The purpose of analytical procedures during the overall review stage is to obtain a broad understanding of the client's financial performance and to identify any areas that may require further investigation. The focus is on identifying potential misstatements or errors that may exist in the financial statements. Therefore, choice A is the best option as other choices do not represent the purpose of analytical procedures during the overall review stage.

Analytical Procedures Used in the Overall Review Stage of an Audit