Analytical procedures are used at which of the following stages of an audit?
A) final review
B) planning
C) execution
D) all of the above

Question

Quizplus · Accepted Answer

Analytical procedures can be used in all stages of an audit, including planning, execution, and final review. During planning, analytical procedures can help the auditor understand the business and identify areas of potential risk. During execution, analytical procedures can be used to gather evidence and test account balances, transactions, and relationships between financial statement elements. Finally, during the final review, analytical procedures can provide an overall assessment of the reasonableness of the financial statements and help identify any potential misstatements or errors. Therefore, option D is the correct answer.

Analytical Procedures Are Used at Which of the Following Stages