DESCRIPTION
This module will identify the types of analytical procedures participants may complete in performing an audit, as well as what role each procedure plays on an audit. The 4-phase approach to performing analytical procedures is discussed, with a deep emphasis on the importance of developing high-quality expectations for various analytical procedures. Through active learning activities, participants will review example analytical procedures and search for opportunities for improvement.
LEARNING OBJECTIVES
• Describe three purposes or uses of analytical procedures on audits
• Create and document high-quality expectations for preliminary and substantive analytical procedures
• Use the four-phase process to design effective substantive analytical procedures
