Generally accepted auditing standards states that analytical procedures:
A)should be applied in the planning and final review stages of the audit and as a substantive test during the audit.
B)should be applied in the planning and final review stages of the audit and can be used as a substantive test during the audit.
C)should be applied in the planning stage and can be applied as a substantive test and in the final review stage.
D)should be applied in the final review stage, and can be applied as a substantive test and in the planning stage.

Question

Quizplus · Accepted Answer

Generally accepted auditing standards state that analytical procedures should be applied in the planning and final review stages of the audit and can be used as a substantive test during the audit. Therefore, option B is the correct answer. Option A is incorrect because analytical procedures can be used during the audit as well as the planning and final review stages. Option C is incorrect because analytical procedures can be used as a substantive test during the audit, not just in the planning stage. Option D is incorrect because analytical procedures can be used in the planning and final review stage, as well as a substantive test during the audit.

Generally Accepted Auditing Standards States That Analytical Procedures