Auditors may use analytical procedures to collect audit evidence. Analytical procedures help the auditors to have a better understanding the business, in which enable the auditors to design the nature, timing and extent of audit procedures. However, auditors need to understand that, in order to use the analytical procedures that gives precision and accurate information, they need to consider the factors that may affect the precision of the analytical procedures. Required: Discuss the FOUR (4) factors that affect the precision of the analytical procedures.
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Auditors may use analytical procedures to collect audit evidence- Anal.docx
1. Auditors may use analytical procedures to collect audit evidence. Analytical procedures help the
auditors to have a better understanding the business, in which enable the auditors to design the
nature, timing and extent of audit procedures. However, auditors need to understand that, in
order to use the analytical procedures that gives precision and accurate information, they need to
consider the factors that may affect the precision of the analytical procedures. Required: Discuss
the FOUR (4) factors that affect the precision of the analytical procedures.
