When and why are analytical procedures performed by an auditor? Select all that apply. risk response phase to evaluate information included in the financial statements Oreporting phase to evaluate the effectiveness of controls risk assessment phase to assess if the financial statements reflect the auditor's understanding of the client Orisk assessment phase to identify unusual fluctuations O reporting phase to identify areas of potential material misstatements

Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter7: Planning The Audit: Identifying, And Responding To The Risk Of Material Misstatement
Section: Chapter Questions
Problem 24MCQ
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Your answer is incorrect.
When and why are analytical procedures performed by an auditor? Select all that apply.
risk response phase to evaluate information included in the financial statements
reporting phase to evaluate the effectiveness of controls
Orisk assessment phase to assess if the financial statements reflect the auditor's understanding of the client
O risk assessment phase to identify unusual fluctuations
O reporting phase to identify areas of potential material misstatements
Transcribed Image Text:Your answer is incorrect. When and why are analytical procedures performed by an auditor? Select all that apply. risk response phase to evaluate information included in the financial statements reporting phase to evaluate the effectiveness of controls Orisk assessment phase to assess if the financial statements reflect the auditor's understanding of the client O risk assessment phase to identify unusual fluctuations O reporting phase to identify areas of potential material misstatements
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