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Audit Planning and Analytical Procedures

Learning Objective 1. Discuss why adequate auditplanning is essential.. Planning. The work is to be adequately planned, andassistants, if any, are to be properly supervised.. Acceptable audit risk - SET. Inherent risk - ASSESSED. Planning an Audit and Designing an Approach. Accept client andperfo

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Audit Planning and Analytical Procedures

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    1. Audit Planning and Analytical Procedures Chapter 8

    2. Learning Objective 1

    3. Planning

    4. Planning an Audit and Designing an Approach

    5. Planning an Audit and Designing an Approach

    6. Learning Objective 2

    7. Initial Audit Planning

    8. Learning Objective 3

    9. Understanding of the Clients Business and Industry

    10. Industry and External Environment

    11. Business Operations and Processes

    12. Management and Governance

    13. Client Objectives and Strategies

    14. Measurement and Performance

    15. Learning Objective 4

    16. Assess Client Business Risk

    17. The Clients Business, Risk, and Auditors Risk Assessment

    18. Learning Objective 5

    19. Preliminary Analytical Procedures

    20. Examples of Planning Analytical Procedures

    21. Learning Objective 6

    22. Analytical Procedures

    23. Timing and Purpose of Analytical Procedures

    24. Timing and Purpose of Analytical Procedures 1. 1.

    25. Timing and Purpose of Analytical Procedures

    26. Learning Objective 7

    27. Five Major Types of Analytical Procedures

    28. Compare Client and Industry Data

    29. Compare Client Data With Similar Prior-period Data

    30. Compare Client Data With Non-financial data

    31. Learning Objective 8

    32. Common Financial Ratios

    33. Short-term Debt-paying Ability

    34. Liquidity Activity Ratios

    35. Ability to Meet Long-term Debt Obligation

    36. End of Chapter 8

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