In the planning stage,analytical procedures are used to
A) Identify potential problem areas.
B) Provide direct evidence about the balances in accounts.
C) Determine the mathematical correctness of the financial statements.
D) All of the above.

Question

Quizplus · Accepted Answer

Analytical procedures in the planning stage are used to identify potential problem areas by comparing current and prior year data, industry averages, and other available information. They are not used to provide direct evidence or determine mathematical correctness of the financial statements.

In the Planning Stage,analytical Procedures Are Used to