Analytical Procedures Used in Planning an Audit Should Focus on Identifying

question 69

Multiple Choice

Analytical procedures used in planning an audit should focus on identifying:

• A)material weaknesses in internal control.
• B)the predictability of financial data from individual transactions.
• C)the various assertions that are embodied in the financial statements.
• D)areas that may represent specific risks relevant to the audit.

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Definitions:

Unconscious Incestuous Feelings

Deep-seated sexual feelings within the unconscious mind towards a family member, as proposed in psychoanalytic theory.

Latency Stage

A phase in Freud's psychosexual development theory occurring between the ages of six and puberty during which sexual impulses and activities are suppressed or dormant.

Phallic Stage

A stage in Freudian psychosexual development, occurring from ages 3 to 6, wherein the child's libido centers upon their genitalia.

Anal Stage

The Anal Stage is the second stage in Freud's theory of psychosexual development, occurring from about 18 months to 3 years of age, where the focus of pleasure is on the control of bowel and bladder elimination.