Explain the Four-Phase Process of the analytical review process includ: 1) Phase one formulate...
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Finance
Explain the Four-Phase Process of the analytical review process includ: 1) Phase one formulate expectations (expectations) 2) Phase two compare the expected value to the recorded amount (identification) 3) Phase three investigate possible explanations for a difference between expected and recorded values (investigation) 4) Phase four evaluate the impact of the differences between expectation and recorded amounts on the audit and the financial statements (evaluation).
note: explain all process in detail.
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