Analytical Procedures =
Understanding Interrelations Between Financial or Non Financial Data (Like Sale , Gross Profit , Net Profit, Quantity Sold , Number of Orders etc) +
Doing Computations , Ratios, Percentage Etc +
Comparing them with Other Data
Analytical Procedures can be used at 3 stages
1. Planning Stage
2. Performing Substantive Tests (Substantive Analytical Procedures)
3. Finalisation & Reporting for overall review of Financial Statements) (Analytical Review Procedures)
So when analytical procedures are used for overall appropriateness of financial statements it can be called Analytical Review Procedures , such term is not used by SA 520.
Analytical Review Procedures can be analysis we do on finalization or it may simply mean use of Analytical Procedures, we have to see context in which it is used.
So many times Analytical Procedures & Analytical Review Procedures both means same.