Emmanuela Zhang was explaining the importance of analytical procedurto her staff. She made two statements:
(i) Analytical procedurare conducted throughout an audit.
(ii) Analytical procedurare an efficient method for estimating account balances.
A) Both statements are correct.
B) Neither statement is correct.
C) Only statement (i) is correct.
D) Only statement (ii) is correct.

Question

Quizplus · Accepted Answer

Analytical procedures are used throughout an audit to help auditors understand the business and identify areas of risk, and they are indeed an efficient method for estimating account balances.

Emmanuela Zhang Was Explaining the Importance of Analytical Procedurto Her