Which of the following statements is not correct with respect to analytical procedures?
A)Auditing standards emphasize the need for auditors to develop and use expectations.
B)Analytical procedures must be performed throughout the audit.
C)Analytical procedures may be performed at any time during the audit.
D)Analytical procedures use comparisons and relationships to assess whether account balances appear reasonable.

Question

Quizplus · Accepted Answer

Analytical procedures are not required to be performed throughout the audit. They can be performed at any time during the audit depending on the auditor's assessment of risk and the availability of data. However, auditing standards do require auditors to perform analytical procedures as a substantive procedure during the planning and overall review stages of the audit.

Which of the Following Statements Is Not Correct with Respect