ASA 520 - Analytical Procedures - April 2006
Analytical Procedures in the Overall RevAnalytical Procedures in the Overall Review at the End of the Audit
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Analytical Procedures in the Overall Review at the End of the Audit
25 The auditor shall apply analytical procedures at or near the end of the audit when forming a conclusion as to whether the financial report as a whole is consistent with the auditor's understanding of the entity.
26 The conclusions drawn from the results of such audit procedures are intended to corroborate conclusions formed during the audit of individual components or elements of the financial report, and assist in arriving at the conclusion as to the reasonableness of the financial report. However, they may also identify a previously unrecognised risk of material misstatement. In such circumstances, the auditor may need to re-evaluate the planned audit procedures, based on the revised consideration of assessed risks for all or some of the classes of transaction, account balances, or disclosures and related assertions.