42 paragraphs found
The objectives of the auditor are: To obtain relevant and reliable audit evidence when using substantive analytical procedures; and To design and perform analytical procedures near the end of the audit that assist the auditor when forming an overall …
For purposes of the Australian Auditing Standards, the term “ analytical procedures ” means evaluations of financial information through analysis of plausible relationships among both financial and non-financial data. Analytical procedures also encompass …
When designing and performing substantive analytical procedures, either alone or in combination with tests of details, as substantive procedures in accordance with ASA 330, [3] the auditor shall: (Ref: Para. A4-A5 ) Determine the suitability of particular …
The auditor shall design and perform analytical procedures near the end of the audit that assist the auditor when forming an overall conclusion as to whether the financial report is consistent with the auditor’s understanding of the entity. (Ref: Para …
If analytical procedures performed in accordance with this Auditing Standard identify fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount, the auditor shall …
Analytical procedures include the consideration of comparisons of the entity’s financial information with, for example: Comparable information for prior periods. Anticipated results of the entity, such as budgets or forecasts, or expectations of the …
Analytical procedures also include consideration of relationships, for example: Among elements of financial information that would be expected to conform to a predictable pattern based on the entity’s experience, such as gross margin percentages. Between …
Various methods may be used to perform analytical procedures. These methods range from performing simple comparisons to performing complex analyses using advanced statistical techniques. Analytical procedures may be applied to a consolidated financial …
The auditor’s substantive procedures at the assertion level may be tests of details, substantive analytical procedures, or a combination of both. The decision about which audit procedures to perform, including whether to use substantive analytical …