IIA-CIA-PART2 · Question #403
According to IIA guidance, which of the following statements about analytical procedures is true?
The correct answer is A. Analytical procedures compare information against expectations. Analytical procedures involve evaluating financial and operational information by comparing it with expected values. These expectations can be based on historical data, industry benchmarks, budgets, or other relevant criteria. The primary purpose of analytical procedures is to…
Question
According to IIA guidance, which of the following statements about analytical procedures is true?
Options
- AAnalytical procedures compare information against expectations.
- BAnalytical procedures begin after the engagement's planning phase.
- CAnalytical procedures provide internal auditors with explainable results.
- DAnalytical procedures are computer-assisted audit techniques.
How the community answered
(42 responses)- A88% (37)
- B2% (1)
- C2% (1)
- D7% (3)
Explanation
Analytical procedures involve evaluating financial and operational information by comparing it with expected values. These expectations can be based on historical data, industry benchmarks, budgets, or other relevant criteria. The primary purpose of analytical procedures is to identify any unusual or unexpected variations that could indicate potential issues or areas requiring further
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