A common question is how to assess the evidential value of simple as well as complex analytical procedures. This session will discuss a framework for integrating AI and other analytical procedures into the audit and assessing their evidential value. The new Evidence Standard better clarifies the application of analytical procedures to provide audit evidence and value.
Identify the role and significance of analytical procedures in the AICPA Audit Risk Model
Analyze how to relate analytical procedures to accounts and assertions
Determine how much credit / risk to assign to analytical procedures
Select advanced analytical tools and identifying the value of the evidence resulting from their performance
Use appropriate documentation produced by advanced analytical tools
CPA, PhD, CFE,
Visiting Professor and Executive in Residence,