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“Reviews are substantially less in scope than an audit” means: a) Analytical procedures are not applied...

“Reviews are substantially less in scope than an audit” means:
a) Analytical procedures are not applied
b) Inquiries were not made
c) Evidence is not gathered
d) All of the above

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Answer #1

D) All of the above

Audit procedures involve inquiries from management, understanding the internal control system of the organization, performing analytical procedures, obtaining confirmations etc.

Review procedures involve inquiries about the practices and principles used by businesses, actions taken by managers of the company, information related to subsequent events etc

Hence, the scope in case of review is less as compared to audit.

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