Properly designing, documenting and evaluating results of analytic review procedures is critical for performing an effective and efficient audit engagement. This module will provide the tips and techniques necessary to gather sufficient appropriate audit evidence to support conclusions using analytic procedures.
Accountants responsible for performing basic analytic procedures on audit engagements
* Link preliminary analytic review results to assessed risk of material misstatement * Perform final overall analysis of audit results * Understand audit standard requirements, including minimum documentation * Design typical analytical procedures * Identify quality control deficiencies in substantive analytic procedures
* Establishing expectations for analytic procedures * Identifying risk of material misstatement through preliminary analytic review procedures * Ensuring sufficient appropriate audit evidence is gathered through final overall analytic review * Properly designing, documenting and evaluating the results of substantive analytic review procedures * Disaggregating substantive analytics for stronger results * Factors impacting the design of substantive analytic procedures * Common pitfalls in performing substantive analytic procedures