Solution-Describe the broad purposes of analytical

Describe the broad purposes of analytical procedures

Assignment Help Auditing

Reference no: EM13886456

1.Analytical procedures consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data. They range from simple comparisons to the use of complex models involving many relationships and elements of data. They involve comparisons of recorded amounts, or ratios developed from recorded amounts, to expectations developed by the auditors.

Required:
a. Describe the broad purposes of analytical procedures.
b. when are analytical procedures required during an audit? Explain why auditors use analytical procedures extensively in all parts of the audit.
c. Describe the factors that influence the extent to which an auditor will use the results of analytical procedures to reduce detailed tests in meeting audit objectives.

Reference no: EM13886456

Questions Cloud

Issues and provide separate editorial responses : Need an essay reflecting me as John C Calhoun. Choose 2 issues and provide separate editorial responses (minimum 250 words per issue) that best reflects John Calhouns perspective.

Minimum pressure on the cylinder : Assume an actual ?ow can be modeled with the ?ow of Prob. 8.49 on the front half of the cylinder and that the pressure on the back half is equal to the minimum pressure on the cylinder (the ?ow is assumed to separate from the cylinder on the back ..

Pressure of the standard atmospheric air : Superimpose a uniform ?ow V ¼ 10i m=s, a doublet m ¼ 40 m3/s, and a vortex. Locate any stagnation points and ?nd the minimum pressure on the cylinder if the pressure of the standard atmospheric air is zero at a large distance from the cylinder.

What will be the final moisture content of the apple slices : Ambient air with a dew point of 18C and a relative humidity of 60% is conveyed at a rate of 1.5 m3/s through an electric heater. The air is heated to a dry bulb temperature of 50 C.

Describe the broad purposes of analytical procedures : 1.Analytical procedures consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data.

The declaration of independence states : The Declaration of Independence states that governments are formed to protect "life, liberty, and the pursuit of happiness." What do you think "the pursuit of happiness" means within the context of the Declaration? How has that definition changed in ..

What was the company involved and who was the fraudster : What was the company involved, and who was the fraudster? How was the fraud perpetrated? What was the dollar value of the loss?

The imperial/colonial government : In the late 1760s and early 1770s (between the end of the Seven Years War and the beginning of the Revolution) you were upset with the imperial/colonial government. It is now a quarter-century down the road from your youth, you are well into your mi..

Long term debt increased from the prior year : You have performed preliminary analytical procedures on one of your audit engagements and observed the following independent situations:

User Account

All Pages

Describe the broad purposes of analytical procedures

Reference no: EM13886456

Reference no: EM13886456

Questions Cloud

Reviews

Write a Review

Auditing Questions & Answers

Internal audit

Accounting professional and ethical standards

Prepare swag''s consolidated balance sheet

Auditing and assurance

State of the company’s industry and associated risk factors

Prepare a memo to the audit partner

Adjusting or non- adjusting events

Audit financial data

Identify principal audit risk

Auditing and assurance

National health reform

Prepare a memo on the state of the company''s industry

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT