Analytical procedures can be used in which of the following ways? a. As a substitute for control

Question:

Analytical procedures can be used in which of the following ways?

a. As a substitute for control testing to assess control effectiveness.

b. As attention-directing methods at the end of an audit.

c. As substantive audit procedures to obtain evidence when planning an audit.

d. As a means of overall review of the financial statements at the end of an audit.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

Fantastic news! We've Found the answer you've been seeking!