Analytical procedures: promise, problems and implications for practice

Analytical procedures are widely used evidence evaluation techniques which aid in the efficient and effective undertaking of audits. The use of analytical procedures is prescribed by auditing standards at both the planning and conclusion stages of the audit, and the reliance on these techniques is increasing under the newer audit methodologies. This paper reviews the descriptive and behavioura1 research which has examined the use and effectiveness of these procedures. The implications of these research findings for academics, practitioners and standard-setters are discussed.