In terms of the International Standards on Auditing, it is compulsory to perform analytical procedures during the planning and finalisation phase of the audit. It is also recommended that analytical procedures form part of the further procedures performed, as powerful evidence can be gained from them. This course will show the power of analytical procedures and guide auditors and independent reviewers in using them to improve the efficacy of the engagement. The focus of this course is to firstly explain the compulsory procedures to be performed at planning and finalisation stage, and secondly to provide practical examples of analytical procedures that can be performed as further procedures.

The objective of this course is to indicate the importance of analytical procedures and to give delegates an understanding of the type of analyses to perform to obtain the most powerful evidence. After this course, delegates should be able to perform analytical procedures not only as a risk assessment tool, but also for obtaining audit evidence.

What are the best procedures for initially indicating errors? What are analytical procedures? When is it compulsory to perform analytical procedures? What are the benefits of analytical review to management and the practitioner Different types of analytical review procedures o Evidence gathering - Creating expectations o Ratio analysis o Defensive Comparisons Nature of analytical procedures Reasons for using analytical procedures Where to use analytical procedures within an audit or independent review Factors to consider when planning/designing analytical review procedures o Limitations in use o Suitability o Reliability if data Investigating differences found Documentation requirements Practical examples of analytical reviews during assurance engagements.

This session will be presente dat an advanced level and all Partners, managers, supervisors and all other staff who will be involved in the review/audit of financials will benefit.

Delegates should bring their own computer with Microsoft office 2016 loaded.If earlier versions are being used, not all excel functions might be available.