Common uses of analytical procedures include all of the following except: a. risk identification during the risk assessment stage. b. testing account balances derived from estimate... Common uses of analytical procedures include all of the following except: a. risk identification during the risk assessment stage. b. testing account balances derived from estimates during the risk response stage. c. overall assessment of financial statements at the final review stage of the audit. d. test of internal controls.
Understand the Problem
The question is asking about the common uses of analytical procedures in an auditing context, specifically which option listed is not commonly included in those uses. It requires an understanding of auditing processes and stages.
Answer
d. test of internal controls.
The final answer is d. test of internal controls.
Answer for screen readers
The final answer is d. test of internal controls.
More Information
Analytical procedures are commonly used for risk assessment, testing estimates, and evaluating financial statements. They are not typically used for testing internal controls.
Tips
Ensure to differentiate between analytical procedures, which focus on financial data analysis, and tests of internal controls, which evaluate the effectiveness of an organization's control mechanisms.
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