GETTING THE AUDIT EVIDENCE BY APPLICATION OF ANALYTICAL PROCEDURES METHOD
Journal Title: Проблеми і перспективи розвитку підприємництва - Year 2012, Vol 1, Issue 3
Abstract
The article subject is issue, related to methodology of audit evidence getting during internal audit tasks implementation. The article purpose is definition and analysis of one of the audit evidence methods – analytical procedures. The article results: main methodological approaches to analytical procedures term definition were formed on the basis of literature sources analysis. Analytical procedures are comparison of actual data with data, which internal auditor expect to get during inspection. Main purpose of analytical procedures implementation is revelation of absence or presence of extraordinary or incorrectly represented facts and economical activity results, which detect potential risk areas and require auditor’s particular attention. Analytical procedures include validity tests, tendency analysis and rates analysis. Analytical tests implementation is carried out in the next order: procedure’s purpose definition, test planning, testing, results analysis, conclusion getting. Using test’s results internal auditor has to define how much internal control system functioning and structure meet his previous discrepancy of internal control marks. Evaluation of existent deviation can bring auditor to the conclusion that he should revise the level of internal control discrepancy. In such cases auditor should revise the character, terms and scale of planned audit procedures implementation. Analytical procedures could be implemented during every step of audit: planning, audit inspection, audit completion. According to the international audit standards requirements analytical procedures must be used in any inspection, it indicates their importance. Analytical procedures are used for getting audit evidences. Author analyses different methods of analytical procedures, their characteristics, necessity and order of their implementation in internal auditors practical activity.
Authors and Affiliations
Yekaterina Surnina
Keywords
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