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This Auditing Standard conforms with International Standard on Auditing ISA 520 Analytical Procedures, issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard-setting board of the International Federation of Accountants (IFAC).
.A4 Various methods may be used to perform analytical procedures. These methods range from performing simple comparisons to performing complex analyses using advanced statistical techniques. Analytical procedures may be applied to consolidated financial statements, components, and individual ele-ments of information.
It is also mandatory that the auditor should perform analytical procedures near the end of the audit that assess whether the financial statements are consistent with the auditor’s understanding of the entity (ISA 520). Analytical procedures are also commonly used in non-audit and assurance engagements, such as reviews of prospective financial ...
ANALYTICAL PROCEDURES ISA 520 446 Introduction Scope of this ISA 1. This International Standard on Auditing (ISA) deals with the auditor’s use of analytical procedures as substantive procedures (“substantive analytical procedures”). It also deals with the auditor’s responsibility to perform
This International Standard on Auditing (ISA) 520 (Redrafted), “Analytical Procedures” was prepared by the International Auditing and Assurance Standards Board (IAASB), an independent standard-setting body within the International Federation of Accountants (IFAC).
Analytical procedures include the consideration of comparisons of the entity’s financial information with, for example: Comparable information for prior periods. Anticipated results of the entity, such as budgets or forecasts, or expectations of the auditor, such as an estimation of depreciation.
2 mar 2015 · This chapter presents AU-C 520's original pronouncement of Statement on Auditing Standards (SAS) 122 as presented under generally accepted auditing standards (GAAS). It includes the definitions of terms, fundamental requirements and objectives of AU-C section 520.
