Introduction

Includes: Scope of this Auditing Standard | Effective Date

Scope of this Auditing Standard

1

This Auditing Standard deals with the auditor’s use of analytical procedures as substantive procedures (“substantive analytical procedures”).  It also deals with the auditor’s responsibility to perform analytical procedures near the end of the audit that assist the auditor when forming an overall conclusion on the financial report.  ASA 315[1] deals with the use of analytical procedures as risk assessment procedures.  ASA 330 includes requirements and guidance regarding the nature, timing and extent of audit procedures in response to assessed risks; these audit procedures may include substantive analytical procedures.[2]

 

1

See ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment, paragraph 6(b).

2

See ASA 330 The Auditor’s Responses to Assessed Risks, paragraphs 6 and 18.

Effective Date

2

[Deleted by the AUASB.  Refer Aus 0.3]