Analytical procedures are extremely useful throughout the audit.

Required:

a$.$ Explain how analytical procedures are useful in

$(1)$ The risk assessment stage of the audit.

$(2)$ The substantive procedures stage of the audit.

$(3)$ Near the end of the audit.

b$.$ List the five sources of information that are available to the auditors in developing expectations for analytical procedures.

c$.$ List and describe four techniques that may be used by the auditors in developing expectations for analytical procedures.