difference between ARP, Analytical procedure, Review Procedures

1 answer

Ravi Staff November 5, 2017

 
Analytical Procedures means comparing amounts / ratios / percentages with last year or op budget or auditor’s own estimate or other companies and then if difference is big investigating it (so it is ratio and graphical analysis)
 
When analytical procedures are used to obtain evidence it is called Substantive Analytical Procedures For example making monthly salary graph to get confidence over salary. Now Substantive Analytical Procedures are also called as Analytical Review Procedures as per old theory of module & pm  
 
Review Procedures :- When junior finishes and senior check his work it is called review and when checking is done in short because of less time it is also called review. Covered by SRE 2400 & 2410

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