Which of the Following Statement Is False Regarding Analytical Procedures

question 4

Multiple Choice

Which of the following statement is false regarding analytical procedures that help auditors assess the overall final presentation of the financial statements?

• A)By performing a final analytical review,the audit firm will identify any unusual,unexpected,or unexplained relationships that should be resolved before the issuance of the audit report.
• B)A basic five-step process for using analytical procedures applies.
• C)Analytical procedures provide evidence on whether certain relationships make sense in light of the knowledge obtained during the audit.
• D)Auditing standards require the use of analytical procedures in the final review phase of the audit to assist in identifying ending account relationships that are unusual.

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Definitions:

Union Dues

The regular payments made by members of a labor union to support its activities, including negotiations for better working conditions and legal representation.

Labour Relations Activity

The management of relationships between employers and employees, including negotiations, collective bargaining, and dispute resolution.

Collective Agreement

A written contract negotiated between an employer and a union representing employees, detailing wages, hours, and conditions of work.

Organizing Process

The method of structuring or arranging resources and operations within an organization to achieve its goals and objectives efficiently.