Question: Question 4: (25 marks) A. Analytical procedures are extremely useful through the audit process. Explain how analytical procedures are useful in the risk assessment stage

Question 4: (25 marks) A. Analytical procedures are extremely useful through

Question 4: (25 marks) A. Analytical procedures are extremely useful through the audit process. Explain how analytical procedures are useful in the risk assessment stage of audit and the substantive procedure stage of audit. (10 marks) B. Describe the risk of material misstatement of an assertion. List two components that make up this risk. (5 marks) C. Compare the objective of internal auditors with those of independent auditors. (10 marks)

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