Question: 1. Do analytical procedures use only financial data based on transactions and balances for the current period? Explain using examples. 2. Discuss how substantive testing

1. Do analytical procedures use only financial data based on transactions and balances for the current period? Explain using examples.

2. Discuss how substantive testing of IdealProtects cost of sales expense would relate to substantive testing of the inventory account on its balance sheet.

3.Describe all the key information required to estimate Everfree Forests revenue for patients staying in the hospital

4. What is an unrecorded liability? Why would an auditor search for them?

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