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.Management Sciences
What is the primary objective of analytical procedures used in the overall review stage of an audit?
A. To help to corroborate the conclusions drawn from individual components of financial statements
B. To reduce specific detection risk
C. To direct attention to potential risk areas
D. To satisfy doubts when questions arise about a client’s ability to continue
Related Mcqs:
- Concurrent audit is a part of____________?
- A. Internal check system B. Continuous audit C. Internal audit system D. None of these...
- Which of the following is not an advantage of the preparation of working paper?
- A. To provide a basis for review of audit work B. To provide a basis for subsequent audits C. To ensure audit work is being carried out as per programme D. To provide a guide for advising another client on similar issues...
- Balance sheet does not include:_____________?
- A. Verification of assets and liabilities B. Vouching of income and expense accounts related to assets and liabilities C. Examination of adjusting and closing entries D. Routine checks...
- If a casual vacancy in the office of auditor arises by his resignation it should only be filled by the company in a_________?
- A. Board meeting B. extraordinary general meeting C. General meeting D. annual general meeting...
- Which of the following would you not use as a benchmark for comparison when undertaking analytical procedures?
- A. Other audit clients B. Previous years C. Other companies in the same industry D. Budget...
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