Analytical work, Auditing

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Auditor performs analytical work only at the end of the audit.

Ans: I disagree with the statement because:

i) Analytical work/procedures are used to obtain an understanding of the entity and its environment;

ii) It can be used as substantive procedure in reducing the risk of material misstatement at the assertion level to an acceptably low level;

iii) And in the end as an overall review of the financial statements at the end of the audit.


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