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1) Describe the analytical procedure you would perform for each one of the accounts -include questions to ask or items to consider during analyses of
You are currently on an audit engagement for Stanley Co. The audit manager has asked you to perform analytical procedures on the following current year account balances. The prior year balance has been audited and provided as a reference. Current Year Prior Year Depreciation expense Sales commission expense Payroll expense $43,570 $84,590 $1,739,500 $33,500 $75,030 $2,530,000
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ANSWER A Analytical procedures are performed as an overall review of the financial statements at the end of the audit to assess whether they are consi...Get Instant Access to Expert-Tailored Solutions
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