Analytical Procedures 


    Analytical procedures are a natural extension of the auditor’s understanding of the client’s business and add to his or her understanding because the key factors that influence the client’s business may be expected to affect the client's financial information. Analytical procedures are used in all three stages of the audit: planning, testing, and overall review. AICPA publications provide practical guidance and illustrative examples for the application of the analytical procedures including
    • a plain-English overview of the purpose and application of analytical procedures.
    • step-by-step guidance through the application of analytical procedures in each stage of the audit.
    • a series of questions and answers addressing issues encountered in the four phases of the analytical procedure process.
    • an in-depth case study illustrating trend analysis, ratio analysis, reasonableness testing, and regression analysis.
       

    Audit Guide Analytical Procedures

     

    Availability


    This AICPA Audit Guide has been fully conformed to reflect the new standards resulting from the Clarity Project. This year’s edition of the guide fully incorporates the clarified auditing standards into all guide content, so that auditors can further their understanding of the clarified auditing standards. The clarified auditing standards are effective for audits of financial statements for periods ending on or after December 15, 2012 (calendar year 2012 audits). Auditors should carefully apply the relevant guidance until the clarified auditing standards become effective for the auditors’ engagements.


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    Many publications and libraries with related information may be of value to those interested in guidance related to analytical procedures:




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