L22 Notes_Part_23 - Regression and time series analysis...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Steps in Applying Materiality 1. Set Preliminary judgment about materiality 2. Allocate preliminary judgment about materiality segments 3. Estimate total misstatement in segment 5. Compare combined estimate with preliminary or revised judgment about materiality 4. Estimate the combined misstatement Arens, Elder Beasley text P L A N N I N G T E S T I N G
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Types of Analytical Procedures Comparative financial statements Common size financial statements Ratio analysis 1. Industry averages to client balance, use of economic data 2. Actual to budget 3. Actual to prior periods 4. Actual to nonfinancial information 5. Actual to other financial statement accounts Cash flow analysis
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Regression and time series analysis Multivariate discriminant analysis Nonfinancial performance indicators Competitive benchmarking 1. Planning Phase REQUIRED 2. Substantive Testing Phase: OPTIONAL 3. Overall Review Phase: REQUIRED W.R. Knechel Implementation of the Audit Process Client Acceptance and Retention Understand Clients Industry Evaluate Internal Control Preliminary Analytical Procedures Knowledge Acquisition of Current Conditions Audit Completion and Reporting Audit Procedures Planning Customer Service Processes Supply Chain & Produciton Processes Resource Management Processes Tests of Financial Statement Assertions...
View Full Document

This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

Page1 / 3

L22 Notes_Part_23 - Regression and time series analysis...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online