Preliminary Analytical Procedures as a Powerful Risk Assessment Step
Preliminary analytics assist auditors in detecting signs of material misstatement. See how to use this tool in your audits.
Auditing standards are issued by the American Institute of CPAs. Opinions rendered under this set of rules are usually issued in the United States, both for non-governmental and governmental entities. The purpose of the audit standards is to provide a basis for auditors to gain sufficient evidential matter to support the opinions issued. Auditors most commonly issue unmodified opinions, meaning the auditor believes there are no material misstatements in the financial statements.
Preliminary analytics assist auditors in detecting signs of material misstatement. See how to use this tool in your audits.
On December 19, 2019, the AICPA released SSAE 19, Agreed-Upon Procedures Engagements. AUPs provide you with the ability to…
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This is a guest post by Harry Hall. He is a Project Management Professional (PMP) and a Risk Management…