Congresso realizado em Lisboa de 10-11 de outubro de 2013The increasing sophistication and quantity of transactions considered to be financial facts included in accounting records and financial statements raises additional issues in terms of financial auditing.
Finding more corroborating evidence for the claims made in balances, transaction classes and disclosures is naturally made more difficult by the fact that accounting information and financial reports are increasingly complex both in terms of the corroborative strength of the evidence and its quantity.
Auditing work therefore relies increasingly on statistical and non-statistical data and on the auditor's use of substantive analytical review procedures, or, to put it briefly, analytical procedures.
The conclusions of this empirical study point to the fact that, in general terms, the increasing use of analytical procedures stems from a risk-based approach to auditing together with reasons that have to do with time pressure and the need to carry out more efficient audits with fewer substantive detail tests as well as improvements in the interpretation of standards applicable to auditing wor
