Effective Analytical Review Procedures (Currently Unavailable)

Author: Lynford Graham

CPE Credit:  2 hours for CPAs

A commonly cited audit deficiency, this course will overview the common stumbling blocks to effective compliance with the long standing as well as new professional standards for applying analytical procedures.

Publication Date: May 2015

Designed For
CPAs with where analytical procedures are (or could be) important and internal auditors who need to develop additional skills in anticipating issues and monitoring accounting data.

Topics Covered

  • The untapped potential of analytical procedures to contribute to audit efficiency
  • The audit risk model — where do analytical procedures fit in
  • The different purposes of analytical techniques
  • Examples of effective and ineffective analytical procedures
  • Linking analytical procedures and assurance to be taken from those procedures
  • Review of the current professional auditing standards
  • Special opportunities for internal auditors to design monitoring processes
  • Prerequisite to relying on analytical procedures — reliability of the data
  • Examples of noted deficiencies in practice
  • Documentation that supports your work and conclusions

Learning Objectives

  • Identify current professional auditing standards regarding analytical procedures
  • Recognize situations where analytical procedures can provide significant audit value
  • Recognize documentation tips, suggestions and ways to implement improved approaches.

Level
Overview

Instructional Method
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None

">
 Chat — Books Support