Which of the following statements is correct concerning analytical procedures used in planning an audit...
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Accounting
Which of the following statements is correct concerning analytical procedures used in planning an audit engagement? Multiple Choice They typically use financial and nonfinancial data aggregated at a high level. They are often used to develop an auditor's preliminary judgment about materiality. They usually involve the comparison of assertions developed by management to ratios calculated by an auditor. They often replace the tests of controls that are performed to assess control risk. 
Which of the following statements is correct concerning analytical procedures used in planning an audit engagement?
Multiple Choice
They typically use financial and nonfinancial data aggregated at a high level.
They are often used to develop an auditor's preliminary judgment about materiality.
They usually involve the comparison of assertions developed by management to ratios calculated by an auditor.
They often replace the tests of controls that are performed to assess control risk.
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