Near the End of an Audit,the Application of Analytical Procedures

question 39

Multiple Choice

Near the end of an audit,the application of analytical procedures is

• A)Recommended by auditing standards.
• B)Not mentioned by auditing standards.
• C)Not useful,since detailed substantive procedures have already been performed.
• D)Required by auditing standards.

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Definitions:

Objectives

Guideposts by which managers define the organization's desired performance in such areas as new-product development, sales, customer service, growth, environmental and social responsibility, and employee satisfaction.

Financial Manager

A professional responsible for managing the financial health of an organization by developing strategies and plans for the long-term financial goals of their organization.

Accounting System

A structured process of collecting, recording, summarizing, and reporting financial transactions to oversee a company's financial health.

Operating Budgets

Detailed projections of income and expenses associated with the daily operations of a company over a specific period.