Are you aware of the power of analytical procedures? Do you use them to their fullest extent? According to ISA 315 and ISA 520, analytical procedures must be performed during risk assessment as well as during finalisation of the audit. Unfortunately, most auditors do a weak analytical procedure just to be able to tick the box, and as such the value of analytical procedures are lost.
Join us in this webinar session where we take a look at the true power of analytical procedures and how to properly perform and document them, not only for risk assessment and evaluation purposes, but also to obtain audit evidence.
• What are analytical procedures
• What different type of analytical procedures can be performed
• What analytical procedure will provide the strongest evidence
• Why do we perform pre-liminary analytical procedures
• How to use analytical procedures to reduce audit work and sample sizes
• What is the reason behind the final analytical review
• Practical pitfalls
All auditors and their staff who is responsible for the audit of financial statements
