In audit completion, what is the purpose of using analytical procedures?

Using analytical procedures in audit completion serves the purpose of interpreting and investigating financial figures. These procedures involve evaluating financial information by studying trends and relationships among data. This helps auditors to identify any unexpected fluctuations or deviations from anticipated patterns, which may indicate areas needing further examination or potential material misstatements.

Analytical procedures allow auditors to gain a broader perspective on the financial results and assertions made by management. By comparing current figures with historical data, industry averages, or budgets, auditors can assess whether the financial statements appear reasonable and consistent. Should the analysis reveal any discrepancies, auditors will then investigate these anomalies further, ensuring that any significant issues are addressed before finalizing the audit.

In contrast, the other options do not accurately reflect the purpose of analytical procedures. Relying solely on forecasts disregards the historical context and actual figures that are crucial for a comprehensive review. Validating management's optimum performance would involve specific metrics and targets rather than broad analytical assessments. Meanwhile, following a random selection approach does not align with the systematic nature of analytical procedures, which are designed to be methodical and data-driven rather than arbitrary.