Analytical procedures have become an increasingly important part of
financial statement auditing and have received significant attention in
the Auditing literature. The use of Analytical procedures is prescribed
by auditing standards at both the planning and conclusion stages of the
audit. This study describes how auditors perform analytical
procedures at the planning, Substantive testing, and overall review
stages of the audit.
I conducted an experiment in which subjects performed analytical
procedures and answered the questions. Study participants were 76
advanced–in–charge auditors attending a week audit training seminar.
They had an average of 188 months of audit experience, ranging form
84 to 318 months.
The results show that auditors apply the analytical procedures at
planning of almost half of Audit contracts. The study also shows that
Analytical Procedures use in Final review almost in all of contracts
and Auditors Use The Analytical procedures as the substantive test in
more of half of Audit contracts.
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