The purpose of analytical procedures at the completion of the audit includes all of the following except:
A) Revising the audit plan.
B) Considering overall reasonableness of the financial statements.
C) Reviewing adequacy of evidence gathered to investigate unusual fluctuations.
D) Recalculating some of the ratios examined during audit planning.

Question

Quizplus · Accepted Answer

The purpose of analytical procedures at the completion of the audit is primarily to evaluate the overall reasonableness of the financial statements and review the adequacy of evidence gathered to investigate unusual fluctuations. Recalculating some ratios may also be necessary. However, revising the audit plan is not a purpose of these procedures as the audit plan is developed at the planning stage and may have already been revised during the course of the audit.

The Purpose of Analytical Procedures at the Completion of the Audit