The audit of GolfDay Company, a manufacturer of bicycle racks and golf carts, is almost finished. Krista Heiss is the most experienced auditor on this audit and is in charge of performing final analytical procedures. The company ships most of its products to a combination of distributors and retailers. The business in totally within the United States at the present time and is seasonal.
a. Why is it important that final analytical procedures be performed by experienced auditors?
b. What are some analytical procedures that Heiss might perform?
c. How can these procedures be useful at this stage of the audit to help ensure audit quality?