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Properly designing, documenting, and evaluating results of analytic review procedures is critical for performing an effective and efficient audit engagement. This module will provide the tips and techniques necessary to gather sufficient appropriate audit evidence to support conclusions using analytic procedures common to financial statement audits.

Major Topics:

  • Identifying risk of material misstatement through preliminary analytic review procedures
  • Ensuring sufficient appropriate audit evidence is gathered through final overall analytic review
  • Establishing expectations for analytic procedures
  • Properly designing, documenting and evaluating the results of substantive analytic review procedures
  • Disaggregating substantive analytics for stronger results
  • Factors impacting the design of substantive analytic procedures
  • Common pitfalls in performing substantive analytic procedures


Learning Objectives

  • Identify and link preliminary analytic review results to assessed risk of material misstatement.
  • Explore and perform final overall analysis of audit results.
  • Recognize audit standard requirements, including minimum documentation for substantive analytic procedures.
  • Discover and design typical substantive analytical procedures.
  • Identify quality control deficiencies in substantive analytic procedures.
Last updated/reviewed: May 03, 2021


Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed for this course.
Designed For: Accountants responsible for performing basic analytic procedures on audit engagements.

Education Provider Information

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
  0:59Learning Objectives for Analytical Procedures
  22:13Preliminary Analytic Review
  12:15Case Study-Linking Preliminary Analytics to Specified Identified Risks
  3:29Final Analytic Review
  8:48Substantive Analytic Procedures
  4:36Typical Analytical Procedures
  4:46Required Elements for Substantive Analytic Procedures
  7:06Minimum Documentation Requirements
  13:48Understanding The Factors That Impact an Account
  4:58Evaluating Differences
Continuous Play
  1:38:24Analytical Procedures - Comprehending Financial Statement Audit Fundamentals
Supporting Materials
  PDFSlides: Analytical Procedures - Comprehending Financial Statement Audit Fundamentals
  PDFAnalytical Procedures - Comprehending Financial Statement Audit Fundamentals Glossary/Index
Review And Test