CHAPTER 7

Analytical Procedures

The purpose of this chapter is to examine the guidance the International Standards on Auditing (ISA) and Public Corporation Accounting Oversight Board (PCAOB) provide on the use of analytical procedures and compare key differences between the ISA and PCAOB and discuss the implications of these differences on auditors operating in these two regimes. In this chapter in particular we focus on the following issues:

•The nature of analytical procedures used in auditing

•Guidance provided by the ISA versus PCAOB on the use of analytical procedures

•Examine key differences between the ISA and PCAOB

•Discuss the implications of these differences on auditors operating in these two regimes

Introduction

Guidance regarding ...

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