Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 98

When performing the required analytical procedures in planning the audit as discussed in Section 520, Analytical Procedures, the auditor may find unusual or unexpected relationships as a result of comparing the auditor’s expectations with recorded amounts or ratios developed from such amounts. The auditor should consider those results in identifying the risk of material misstatement due to fraud. (AU-C 240.22)

The auditor should also perform analytical procedures relating to revenue with the objective of identifying unusual or unexpected relationships involving revenue accounts that may indicate a material misstatement due to fraudulent financial reporting. Examples of such procedures include:

 Comparing sales volume with production capacity (sales volume greater than production capacity might indicate fraudulent sales).

 Trend analysis of revenues by month and sales return by month shortly before and after the reporting period (the analysis may point to undisclosed side agreements with customers to return goods).

 Trend analysis of sales by month compared with units shipped. This may identify a material misstatement of recorded revenues.

(AU-C 240.A25)

Although analytical procedures performed during audit planning may be helpful in identifying the risk of material misstatement due to fraud, they may only provide a broad indication, since such procedures use data aggregated at a high level. Therefore, the results of such procedures should be considered along with other information obtained by the auditor in identifying fraud risk. (AU-C 240.26)