Question: Read the article Hitzig, N. B., (2004). The Hidden Risk in Analytical Procedures: What WorldCom Revealed, The CPA Journal, 74(2), p. 32-36. The article is

Read the article Hitzig, N. B., (2004). The Hidden Risk in Analytical Procedures: What WorldCom Revealed, The CPA Journal, 74(2), p. 32-36. The article is related to analytical procedures, which as discussed in many of the other modules, is also a significant aspect of the final completion stages of the audit cycle. You can also access this article through the ESC library databases and access the CPA Journal under publications in the ProQuest database. Having read the articles, explain how cost of goods sold for a wholesale company can be verified by each of the following tests: analytical procedures, tests of controls and substantive tests of transactions, analysis of account balances, and tests of details of balance sheet accounts.

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