Analytical work, Auditing

Auditor performs analytical work only at the end of the audit.

Ans: I disagree with the statement because:

i) Analytical work/procedures are used to obtain an understanding of the entity and its environment;

ii) It can be used as substantive procedure in reducing the risk of material misstatement at the assertion level to an acceptably low level;

iii) And in the end as an overall review of the financial statements at the end of the audit.

Posted Date: 3/16/2013 3:42:47 AM | Location : United States







Related Discussions:- Analytical work, Assignment Help, Ask Question on Analytical work, Get Answer, Expert's Help, Analytical work Discussions

Write discussion on Analytical work
Your posts are moderated
Related Questions
Valuation - Long Term Contracts The basis of valuation should be cost plus attributable profit as benefits less foreseeable losses and progress payments both receivable and re

Presentation and Disclosure - Audit Process Specific presentation involves presentation in accordance along with the suitable IFRS/IAS or International Accounting Standards.

Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem, & Howe (DCH), after noting that there is a proposal to limit Auditor liability is very excited and has announced that th

Banks Features (a) Profit and loss account: When looking at a bank's profit and loss account the accountant should seek to discover what proportions of the bank's profits

Audit Approach The auditor: 1) Must get the cooperation of the client, as simply the client can authorise third parties that communicate along with the auditor. 2) Choos

Audit of Current Assets Verification of Work and Stocks in Progress Authoritative documents: IAS 2/ISA 500/501 IAS 1 Preparation of financial statements requires inv

Related Party Transactions Related party transactions-a transfer of obligations or resources among related parties, regardless of whereas a price is charged. A party is rel

Standard Defines Development and Research The standard defines development and research as follows: (a) Research - planned and original investigation undertaken along with

Part A: What are the five inter-related components of internal control? Briefly discuss them. Part B: A file maintained by the Accounts Department for one of Sharp's s

how to operate distribute amount and section rate also provision party bill