Analytical Procedures: Methods and Evaluation

Description

Analytical procedures evaluate financial information through examination of plausible relationships among both financial and non-financial data. They also encompass such investigation, when necessary, of the identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount.

Highlights

• Review of the appropriate audit and review standards

• Identifying appropriate analytical procedures in the circumstances

• Developing expectations

• Designing and performing analytical procedures

• Investigating results of the procedures performed

• Introduction to data analytics

Objectives

• Recognize financial statement areas where analytical procedures can be used effectively

• Determine the appropriate procedures to perform and which financial ratios and benchmarks to evaluate in consideration of the company's industry statistics and the economic environment

• Identify the circumstances when additional investigation of the results of the procedures is required

Designed For

Accountants and CPAs that perform audit and review engagements