Completed
Date

Thursday 2 December 2021

Time

2:30 pm

Duration

1.5 CPD Hours

Session Topic

‘Analytical procedures’ – the whole story and better application

Analytical procedures are part of an auditor’s risk-assessment process.  They are also performed near the end of audits.  ‘Substantive’ analytical procedures may be used in response to assessed risks.  The Australian Securities & Investments Commission has identified shortcomings in using analytical procedures. Lessons are to be learnt.  Different emphases apply when analytical procedures are used in a review engagement.

This session will address:

  • The nature of analytical procedures and common ones
  • How to use analytical procedures in risk assessments and at the conclusion of audits
  • When ‘substantive’ analytical procedures apply
  • Documentation
  • Lessons to learn from ASIC’s and other reviews
  • Good and poor analytical practices, and
  • Analytical procedures for review engagements.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board. He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.

 

Chanelle Pienaar

Principal | Audit Assist

Chanelle is an accomplished Chartered Accountant with more than 20 years’ experience as an auditor in a wide variety of Financial Audit and Audit Quality Control projects. Chanelle has abroad range of experience covering Financial Statement Audits, Audit Quality Control Reviews, Trust Account Audits and AASB implementation Advice & Assistance. Chanelle has strong technical knowledge and enthusiastic training style ensures that all participants, from the graduate to the partner, receive maximum value from each training session.