Auditing Standard No. 520 on analytical procedures issued together with Circular 214/2012 / TT-BTC
Scope of application
- This Auditing Standard specifies and guides the auditor's responsibility and auditing firms (hereinafter referred to as "auditors") in using analytical procedures as fundamental tests (“basic analytical procedure”). This International Standard also specifies and guides the auditor's responsibility to perform analytical procedures at the close of the audit to assist the auditor in formulating an overall conclusion about the financial statements. Paragraph 06 (b) VAS 315 requires the auditor to use analytical procedures to assess risk. Sections 06 and 18 in the Vietnamese Standard on Auditing 330 specifies and guides the content, schedule and scope of audit procedures for dealing with assessed risks; These audit procedures may include basic analytical procedures.
- The auditor and the firm shall comply with this Standard's requirements and instructions in performing the audit and providing related services.
The entity (the customer) and the parties using the results of the audit shall have the necessary understanding of the requirements and guidelines of this Standard in order to coordinate with the auditor and the firm in the Provide necessary information and documents related to the audit.
Target
- Auditor's goal and corporate auditing the:
Obtain appropriate and reliable audit evidence when using basic analytical procedures;
- Design and perform analytical procedures at the close of the audit to help the auditor form an overall conclusion about whether the financial statements are consistent with the auditor's understanding of the application. you are audited or not.
See full text Auditing Standard No. 520
