ISSUES OF APPLICATION OF ANALYTICAL PROCEDURES IN AUDITING
Keywords:
Audit inspections, analytical operations, audit risk, financial analysis, horizontal analysis, vertical analysis, indicator analysis, auditing standards, financial statements, audit strategy, audit efficiency, identification of inaccuracies, risk management, audit processes.Abstract
This article examines the importance and practice of applying analytical procedures in the course of audits. Analytical procedures serve as an important tool for auditors to effectively assess financial statements, identify errors and inaccuracies. The article examines the main methods of applying analytical operations, including horizontal and vertical analysis, financial performance analysis, and audit risk management. Also, the role of international auditing standards, in particular ISA 520, in determining how to apply analytical procedures in auditing practice is analyzed. The article highlights the relevance of analytical operations in making the audit process more effective and reducing risks.
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