Question: What is the difference between preliminary analytical procedures and substantive analytical procedures?

What is the difference between preliminary analytical procedures and substantive analytical procedures?

Step by Step Solution

★★★★★

3.49 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Preliminary analytical procedures are performed at the planning stage and the purpose is to h... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1148-B-A-A-A-N(4748).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

Q:

MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements best describes what is meant by the term appropriateness of audit evidence? a. Appropriateness is a measure of the quality of audit...

Q:

MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements is false regarding preliminary analytical procedures in the revenue cycle? a. Since revenue is typically regarded as a high-risk...

Q:

MULTIPLE-CHOICE QUESTIONS 1. An auditor performing preliminary analytical procedures scans the repairs and maintenance accounts. Which of the following statements is consistent with what the auditor...

Q:

Attached is a scenario and list of questions required for a 5 to 7 page paper. Executive Summary Smackey Dog Foods, Inc, created by sisters, Kim, Jillian and Sarah was a private start-up company that...

Q:

plz finish the requirements of module 6-10, if u have any question, let me know Go to www .cengage.com/accounting/rittenberg for the Ford and Toyota materials. Source and Reference Ford 10-K, Toyota...

Q:

Smackey Dog Foods Inc. started in the kitchen of Sarah, Kim, and Jillian?s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food recipes...

Q:

You are the audit manager of a medium-sized firm and have just received a package from Rachel Jones, the financial controller of Telechubbies Ltd, a toy manufacturer. This is your firms first year as...

Q:

auditing TIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) Which of the following is not one of the three primary objectives of effective internal...

Q:

MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements is true regarding preliminary analytical procedures for debt obligations and stockholders' equity transactions? a. Because there are...

Q:

Please answer q1-q5 Alpine Cupcakes, Inc. Audit Case Assignments they conducted the audit. Note that other papers are client documents that Garcia and Foster collected and kept in support of their...

Q:

A marketing program must connect an organization with its customers. In this exercise, we will investigate marketing programs, the marketing mix, and the important concept of customer value....

Q:

Review the discussion of the value of a typical workers human capital in Section 7.5 on pages 18485. (a) Recompute the present discounted value in the following cases: R = 0.01, R = 0.02, R = 0.04, R...

Q:

Based on extensive testing, it is determined by the manufacturer of a washing machine that the time Y (in years) before a major repair is required is characterized by the probability density function...

Q:

What is the association between a business rule and a validation table?

Q:

Metro Plastics Limited is a medium-sized manufacturer of rigid plastics. It produces casings for printers, telephones, computer screens, and other types of equipment. It also produces stand-alone...

Q:

Gaboria Frank is the owner of Frankincents Machining Limited, a custom machining centre with 10 full-time employees and a part-time bookkeeper, Norma, who comes in two days a week. Norma convinced...

Q:

Friggle Corp. is a leasing and property management company located in Alberta. It provides financing to organizations wishing to purchase equipment or property and manages apartments and condominium...

Q:

Stocks X and Y have the following probability distributions: Calculate the expected rate of return for each stock. Calculate the standard deviation for each stock. Calculate the coefficient of...

Q:

6. Modigliani and Miller assumptions In 1958 Franco Modigliani and Merton Miller (MM) published a set of research papers that revolutionized the theory of a corporation's capital structure. In their...

Q:

Drill Problem 1 0 - 1 3 ( Algo ) [ LU 1 0 - 3 ( 1 ) ] Given Principal $ 1 4 , 0 0 0 , Interest Rate 7 % , Time 2 4 0 days ( use ordinary interest ) Partial payments: On 1 0 0 th day, $ 5 , 4 0 0 ; On...