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Exam AUD topic 1 question 640 discussion

Actual exam question from AICPA's AUD
Question #: 640
Topic #: 1
[All AUD Questions]

Analytical procedures performed in the final review stage of an audit generally would include:

  • A. Reassessing the factors that assisted the auditor in deciding on preliminary materiality levels and audit risk.
  • B. Considering the adequacy of the evidence gathered in response to unexpected balances identified in planning.
  • C. Summarizing uncorrected misstatements specifically identified through tests of details of transactions and balances.
  • D. Calculating projected uncorrected misstatements estimated through audit sampling techniques.
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Suggested Answer: B 🗳️
Choice "B" is correct. Analytical procedures applied during the final review stage should be used to determine whether adequate evidence has been gathered in response to unusual or unexpected balances identified during the audit.
Choice "A" is incorrect. Analytical procedures generally involve comparison of recorded amounts to auditor expectations. Reassessing the factors used to establish materiality levels and audit risk would not involve such comparisons.
Choice "C" is incorrect. Analytical procedures generally involve comparison of recorded amounts to auditor expectations. Summarizing uncorrected misstatements would not involve such comparisons.
Choice "D" is incorrect. Analytical procedures generally involve comparison of recorded amounts to auditor expectations. Calculating projected uncorrected misstatements would not involve such comparisons.
by gemazyni at April 5, 2025, 4:55 p.m.

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