The Purpose of Analytical Procedures at the Completion of the Audit

question 7

Multiple Choice

The purpose of analytical procedures at the completion of the audit includes all of the following except:

• A) Revising the audit plan.
• B) Considering overall reasonableness of the financial statements.
• C) Reviewing adequacy of evidence gathered to investigate unusual fluctuations.
• D) Recalculating some of the ratios examined during audit planning.

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Definitions:

Common Parts

Components or elements that are standard and used interchangeably among different products or systems.

Bill Of Material

A comprehensive list of raw materials, parts, and components, including quantities, required to manufacture, assemble, or repair a product or service.

Top Level

Pertaining to the highest layer of management or hierarchy in an organization or system.