Which of the following is true about analytical procedures? ...
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Accounting
Which of the following is true about analytical procedures?
| Analytical procedures are used in risk assessment, as a substantive procedure for specific accounts, and near the completion of the audit of the audited financial statements. | ||
| Performing analytical procedures results in the most reliable form of evidence. | ||
| Analytical procedures are used for planning, but they should not be used to obtain evidence as to the reasonableness of specific account balances. | ||
| Analytical procedures are tests of controls used to evaluate the quality of a client's internal control. |
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