Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Audit Evidence Based on AICPA question American Institute of Certified Public Accountants. iv n: Analytical procedures consist of evaluations of financial information made by a

Audit Evidence Based on AICPA question American Institute of Certified Public Accountants. iv n: Analytical procedures consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data. They range from simple comparisons to the use of complex models involving many relationships and elements of date. They involve comparisons of recorded amounts, or ratios developed from recorded amounts, to expectations developed by the auditors.

Required: (a) Describe the broad purposes of analytical procedures.

(b) When are analytical procedures required during an audit? Explain why auditors use analytical procedures extensively in all parts of the audit.

(c) Describe the factors that influence the extent to which an auditor will use the results of analytical procedures to reduce detailed tests in meeting audit objectives.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Auditing And Risk Management The Mediating Effect Of Role Ambiguity On Factors Performance Relationship

Authors: Shabnam Fazli Aghghaleh, Zakiah Mohammadun Mohammed, Azlina Ahmad

1st Edition

3846587397, 978-3846587393

More Books

Students also viewed these Accounting questions