The purposes for performing analytical procedures during theplanning phase (risk assessmentphase) of the audit differs from the purposes for performing analytical procedures during thetesting/execution phase (risk response phase)of the audit.

Which of the following is/are purposes for performing analytical procedures during theplanning phase (risk assessment phase)of the audit?

(NOTE:There may be more than one correct answer.An incorrect answer will result in a deduction.)

To aid in the identification of risks.

Substantive procedure to assess the various accounts in the financial statements.

Attention-directing -- highlight unusual or inconsistent fluctuations in accounts.

To replace tests of details of balances for major account balances.

To enhance the auditor's understanding of the client's business.

To assist in the performance of tests of controls.