Which of the following is not considered to be an analytical procedure?Multiple ChoiceComparisons of financial statement amounts with source documents.Comparisons of financial statement amounts with budgeted amounts.Comparisons of financial statement amounts with nonfinancial data.Comparisons of financial statement amounts with comparable prior year amounts

Answer: Comparisons of financial statements accounts with source documents

Answered: Which of the following is not…

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter17: Other Services Provided By Audit Firms

Section: Chapter Questions

Problem 57RSCQ

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Similar questions

Which of the following outcomes is NOT a desired outcome of a financial audit? Test internal controls Examine completeness of financial records Assess legality of transactions Evaluate public opinion of the budget
Discuss how the key differences between balance sheet accounts and income statement accounts affect the nature, timing and extent of substantive testing of each type of account?
An auditor simply compares a current year balance with the prior year balance in order to help identify trends. This procedure provides persuasive evidence. O minimal evidence. O corroborative evidence. O key item evidence.
Which of the following is an example of "other information" that could be used by an auditor as evidential matter supporting the financial statements? Worksheets supporting cost allocations. Accounting manuals. Special journals. Confirmation of accounts receivable.
Which of the following is not an analytical procedure? Comparison with prior period information Analysis of significant ratios and trends Analysis of relationships between financial and non-financial data None of the given options
Determine the following as a result of your audit: a. How much is the correct total interest income related to notes receivable reported in the 2022 Statement of Comprehensive Income? b. How much is the net understatement (overstatement) of profit reported in the Statement of Comprehensive Income in 2022?
The following are all output reports of the financial reporting system, EXCEPT a. variance analysis report. b. statement of cash flows. c. tax return. d. comparative balance sheet.
Which of the following procedures would most likely help an auditor identify events after the date of the financial statements that should be disclosed? A.Review changes in the interest rate for cash accounts. B.Follow up on accounts receivable confirmations that were not returned for additional loss accruals. C.Inquire about changes in capital stock that was issued or repurchased. D.Evaluate depreciation schedules for additional depreciation expense.
What is the purpose of analytical reviews in the audit of revenue cycle accounts? Please give an example.
When applying analytical procedures during an audit, which of the following is the best approach for developing expectations? Multiple Choice Considering the pattern of several unusual changes without trying to explain what caused them. Considering unaudited account balances and ratios to calculate what adjusted balances should be. Comparing client data with client determined expected results to reduce detailed tests of account balances. Comparing current year account balances to balances of one or more comparable periods.
An auditor is performing analytical procedure that involves developing common-size financial statements. This technique is referred as: Vertical analysis, Horizontal analysis, Cross-sectional analysis, or Comparison analysis

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