Thesis Abstract and Dissertation Abstracts
Analytical Review Procedures and Local Auditing Practices
Abstract Category: Accounts and Economics
Course / Degree: Bachelor of Accountancy (Hons.)
Institution / University: University of Malta, Malta
Published in: 2003
Analytical review procedures are techniques applied to improve the efficiency of audits. Analytical review procedures range from the naive to sophisticated statistical approaches: ratio, trend and regression analysis are some typical analytical review procedures. Since, analytical review procedures rely on assumptions about the underlying data, they must be used cautiously and are most effective when applied by an experienced auditor. Effective analytical procedures can provide audit evidence in a cost effective manner.
The study intends to identify and portray the application and applicability of and developments in analytical review procedures in Malta. The study will seek to address the following key research objectives:
- The application of analytical review procedures in the planning, field-work stage, and final review stage of the audit.
- The applicability of analytical review procedures.
- Developments in analytical review procedures
A combination of personal in-depth interviews and a self-administered mail survey were used in this study. The self-administered mail survey yielded valid responses from 3 large audit firms, 2 second-tier firms, 12 small audit firms and 21 sole practitioners with a percentage rate of 58.5%. Semi-structured interviews were conducted with 4 large audit firms, 2 second-tier firms, 7 small audit firms and 5 sole practitioners.
This study concludes that analytical review procedures have recently gained more importance in the audit work of local auditors. These procedures are being applied by the majority of auditors in all the audit stages. Analytical review procedures are very effective in identifying risk areas and help the auditor plan his work. These procedures are perceived by Maltese auditors to be very effective in signalling errors. However, analytical review procedures need to be accompanied by other tests for the auditor to arrive at the final audit opinion.
This study also concludes that even though there were theoretical developments in analytical review procedures, the most simple and straightforward procedures are applied by Maltese auditors. With the developments in ICT and the increased use of computers these procedures are recently being applied more. There is the perception among auditors that the applicability of analytical review procedures will increase in the near future. They argue that in the future companies will become more structured, thus enabling the auditor to apply these procedures.
Thesis Keywords/Search Tags:
Analytical Review Procedures
This Thesis Abstract may be cited as follows:
Borg, J. (2003), Evidence by Affidavit in the Civil Court, Unpublished Bachelor of Accountancy (Hons.) Dissertation, April 2003, Faculty of Economics, Management and Accountancy , University of Malta
Submission Details: Thesis Abstract submitted by Jeanette Borg from Malta on 14-Oct-2003 14:55.
Abstract has been viewed 3429 times (since 7 Mar 2010).
Jeanette Borg Contact Details: Email: jeanborg@lycos.co.uk
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