Analytical Procedures Used in the Overall Review Stage of an Audit

question 26

Multiple Choice

Analytical procedures used in the overall review stage of an audit generally include

• A)Considering unusual or unexpected account balances that were not previously identified.
• B)Performing tests of transactions to corroborate management's financial statement assertions.
• C)Gathering evidence concerning account balances that have not changed from the prior year.
• D)Re-testing control procedures that appeared to be ineffective during the assessment of control risk.

---

Definitions:

Underemployed

Underemployed refers to individuals working less than they would like to, either in terms of hours or in jobs that do not utilize their skills fully, often leading to lower incomes and job satisfaction.

Human Capital

The sum of abilities, insights, and non-physical resources of people which can be employed to produce financial gain for the person, their company, or the community.

Technology Adoption

The process by which individuals and businesses start using new technologies or upgrade to more advanced technological systems.

Private Channels

Means of communication or distribution that are owned, controlled, or operated by private entities, not accessible by the general public or restricted in access.