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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.
Auditors use various tools to document their understanding of an entity's internal control system, including narrative descriptions, internal control questionnaires, and flowcharts
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