Recent Posts  •  Latest Topics  •  Unresolved Questions
  
  
Top Posters
Since Sunday
V
9
C
7
B
7
7
a
7
S
7
l
7
l
7
j
7
B
7
k
7
s
6
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
tunisia81 tunisia81
wrote...
Go to Answer
Posts: 47
Rep: 0 0
2 weeks ago
Which of the following is a correct statement regarding analytical procedures?

▸ If an auditor identifies a possible misstatement in sales using analytical procedures, accounts payable will be the likely offsetting misstatement.

▸ Auditors should also compare the results of their analytical procedures to budgets and industry trends.

▸ If sales are overstated, the income statement will be incorrect, but the balance sheet will be correct.

▸ If an analytical procedure uncovers an unusual fluctuation, the auditor must assume fraud is involved.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
Authors:
Read 3 times
1 Reply
Replies
Answer verified by a subject expert
iammtziammtz
wrote...
#1
Posts: 42
Rep: 1 0
2 weeks ago
Sign in or Sign up in seconds to unlock everything for free
More questions for this book are available here
Auditors should also compare the results of their analytical procedures to budgets and industry trends.
1

Related Topics

tunisia81
wrote...
Posts: 47
Credits: 20

2 weeks ago
Thanks for your help!!
jodie1
wrote...
Posts: 64
Credits: 40

Yesterday
Thanks
vernonb
wrote...
Posts: 110
Credits: 125

2 hours ago
Helped a lot
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  121 People Browsing
 240 Signed Up Today
Start New Topic Take the Tour Study Tips Topics TrendingNew Browse by Textbook
Related Images
 243
 153
 53
Your Opinion
What's your favorite math subject?
Votes: 150
Previous poll results: Do you believe in global warming?