Question

Final analytic procedures are generally intended to:

a. provide the auditor with a final, overall evaluation of the relationships among financial statement balances.
b. test transactions to corroborate management's financial statement assertions
c. gather evidence concerning account balances that have not yet been investigated
d. retest control activities that appeared to be ineffective during the assessment of control risk

Answer 1

Final analytic procedures are used by auditors to evaluate the overall relationships among financial statement balances, ensuring consistency and logical sense across the financial statements.

Step-by-step explanation:

Final analytic procedures in an audit context are generally intended to provide the auditor with a final, overall evaluation of the relationships among financial statement balances. This step is crucial for the auditor to confirm that the financial statements as a whole are consistent and make logical sense. As opposed to testing individual transactions or retesting controls, final analytics are used to identify any remaining areas of risk that have not been previously identified and to review the conclusions drawn during the audit process to ensure they are supported by the evidence gathered.