CNO SA 520-1 – Auditguru

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CNO SA 520-1 true or false..the question says that analytical procedure are unable to help auditor while determining nature time and extent of audit procedure..the answer should be false because analytical procedure helps the auditor in identifying risky areas of clients business and thus determine nature extent timing..
Also the answer is contradictory to the answer provided in CNO SA 520-11 where it written that the information helps in determining the nature extene timing.
Please clarify sir
Thank you

1 Answers

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Ravi Staff answered 4 years ago

we checked our database answer given by icai is same
we also think this answer is incorrect
correct answer should be
analytical procedures can be applied at planning stage to determine NTE of audit procedures