Analytical review includes the examination of ratios, trends and changes in balancesand other values between periods to obtain a broad understanding of theOrganization’s financial or operational position and identify areas that may requirefurther or closer investigation. Usually, this technique is used when planning thescope of audit assignments.
It means the ability to recognize the existence of problems or potential problems andto determine the further research to be undertaken or the assistance to be obtained.
An objective examination of evidence for the purpose of providing an independentassessment on risk management, control, or governance processes for theorganization. Examples may include financial, performance, compliance, systemsecurity, and due diligence engagements.
Audit Objectives are broad statements developed by internal auditors and defineintended audit accomplishments. Audit objectives are accomplished in accordance