Analytical Procedures Used in the Overall Review Stage of an Audit

question 93

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) Retesting control activities that appeared to be ineffective during the assessment of control risk.

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Definitions:

Logical Definition

A precise explanation of a term or concept based on its essential attributes and its distinction from related terms.

Genus

A major classification category situated above species and beneath family, employed in the categorization of both living and extinct life forms.

Circularity

A reasoning error where the conclusion is included in the premises or assumed in one of the premises.

Referents

Objects or events in the world that words or phrases refer to or signify.