Audit procedures for financial statement disclosures involve verifying the accuracy, completeness, and proper presentation of information disclosed in the financial statements. Here's a brief overview of some common audit procedures:

Review of Disclosures: Auditors examine the financial statements and accompanying disclosures to ensure they comply with relevant accounting standards and regulatory requirements.

Comparative Analysis: Auditors compare the current year's financial statement disclosures with those of prior periods to identify any significant changes or inconsistencies.

Substantive Testing: Auditors perform substantive procedures to obtain evidence supporting the amounts and disclosures in the financial statements. This may involve testing the underlying transactions and balances that contribute to the disclosures.

Inquiry and Confirmation: Auditors may inquire with management or seek confirmation from third parties to corroborate the information disclosed in the financial statements.

Legal Review: Auditors may engage legal experts to review disclosures related to legal matters, contingent liabilities, or other significant contractual arrangements for accuracy and completeness.

Disclosure Checklist: Auditors utilize disclosure checklists to ensure all required disclosures are included and appropriately presented in the financial statements.

Now, here's an objective type question based on the information provided:

Which audit procedure involves comparing the current year's financial statement disclosures with those of prior periods?

A$)$ Review of Disclosures

B$)$ Comparative Analysis

C$)$ Substantive Testing

D$)$ Inquiry and Confirmation