CAF-8 · Chapter 7 · Question 2 of 10
During the final review stage of an audit, the engagement partner performs analytical procedures. What is the primary objective of these procedures at this stage?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) To assist in forming an overall conclusion as to whether the financial statements are consistent with the auditor's understanding of the entity.
Explanation
Analytical procedures performed near the end of the audit are meant to corroborate conclusions formed during the audit and ensure the financial statements as a whole make sense based on the auditor's cumulative knowledge.
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