Analytical review – NBC Institute

AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting

Identifies the technique involving ratios and statistical analysis to obtain audit evidence.

Question

The computation of ratios and trends and the use of statistical formula to obtain audit evidence is:

A. Hot review
B. Audit sampling
C. Substantive test
D. Analytical review
E. Audit review

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit evidence, Ratio Analysis, Statistical Techniques, Substantive Testing
Level: Level 3

Topic: Audit Reporting
Series: NOV 2011

PSAF – May 2022 – L2 – SA – Q4 – Government Revenue

Compute financial ratios for Koki Event Center and highlight ways to conduct analytical reviews.

Question

The following information relates to Koki Event Center which is owned and managed by Ogbonge Local Government.

Koki Event Centre
Statement of financial position as at September 30, 2021 (Extract)

Required:
a. Compute the following relevant ratios for the event centre and comment on your results:
i. Current ratio (3 Marks)
ii. Acid test ratio (3 Marks)
iii. Working capital/Total assets ratio (3 Marks)
iv. Total debts/Total assets ratio (3 Marks)
v. Long-term debts/Total assets ratio (3 Marks)

b. Highlight THREE ways by which analytical review can be conducted. (3 Marks)

c. Explain TWO ways the performance appraisal of a profit-oriented entity would differ from that of a public-oriented entity. (2 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Current Assets, Event Center, Financial Ratios, Long-Term Debts, Public Sector
Level: Level 2

Topic: Government Revenue
Series: MAY 2022

AA – Nov 2021 – L2 – Q5 – Audit Evidence

Discuss analytical review procedures and their purpose in auditing.

Question

One of the audit testing procedures available to the auditor is the Analytical Review Procedure.

a. Explain what is meant by Analytical Review Procedures. (6 Marks)
b. Explain FOUR types of general Analytical Review Procedures. (4 Marks)
c. What is the purpose of performing Analytical Review Procedures at the audit planning stage? (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit Procedures, Financial Analysis, Planning Stage
Level: Level 1

Topic: Audit evidence
Series: NOV 2021

AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting

Explanation of audit procedures in reviewing the overall financial statements.

Question

Auditors go through a checklist of procedures before expressing an opinion on the financial statements.

Required:
Explain the audit procedure in relation to the review of the overall financial statements.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit Procedures, Compliance, Financial Statement Review
Level: Level 2

Topic: Completion Procedures and Reporting
Series: MAY 2017

AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning

Analytical review and risk assessment based on the draft statement of profit or loss for Black Gold Co. Ltd

Question

Your audit firm, Beauties Consult, is going to audit for the first time the financial statements of Black Gold Co. Ltd. for the year ended 31 December, 2017. Black Gold Co. Ltd. operates a chain of fuel filling stations in the Greater Accra, Ashanti and Western Regions of Ghana. Customers pay cash for the main products – premium, diesel, and kerosene.

According to its directors, the company has had a “challenging” year and is renegotiating its bank overdraft facility with its bankers. The Statement of Profit or Loss for the year ended 31 December, 2016, is shown below together with the draft Statement of Profit or Loss for the year ended 31 December, 2017.

Required:
As head of the audit team, you are carrying out risk assessment at the planning stage. Perform an analytical review of the draft statement of profit or loss to identify possible risk areas requiring further audit work and provide the necessary risk responses. (12 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit Planning, Financial Statements, Risk Assessment
Level: Level 3

Topic: Planning, The audit approach
Series: NOV 2018

AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting

Identifies the technique involving ratios and statistical analysis to obtain audit evidence.

Question

The computation of ratios and trends and the use of statistical formula to obtain audit evidence is:

A. Hot review
B. Audit sampling
C. Substantive test
D. Analytical review
E. Audit review

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit evidence, Ratio Analysis, Statistical Techniques, Substantive Testing
Level: Level 3

Topic: Audit Reporting
Series: NOV 2011

PSAF – May 2022 – L2 – SA – Q4 – Government Revenue

Compute financial ratios for Koki Event Center and highlight ways to conduct analytical reviews.

Question

The following information relates to Koki Event Center which is owned and managed by Ogbonge Local Government.

Koki Event Centre
Statement of financial position as at September 30, 2021 (Extract)

b. Highlight THREE ways by which analytical review can be conducted. (3 Marks)

c. Explain TWO ways the performance appraisal of a profit-oriented entity would differ from that of a public-oriented entity. (2 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Current Assets, Event Center, Financial Ratios, Long-Term Debts, Public Sector
Level: Level 2

Topic: Government Revenue
Series: MAY 2022

AA – Nov 2021 – L2 – Q5 – Audit Evidence

Discuss analytical review procedures and their purpose in auditing.

Question

One of the audit testing procedures available to the auditor is the Analytical Review Procedure.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit Procedures, Financial Analysis, Planning Stage
Level: Level 1

Topic: Audit evidence
Series: NOV 2021

AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting

Explanation of audit procedures in reviewing the overall financial statements.

Question

Auditors go through a checklist of procedures before expressing an opinion on the financial statements.

Required:
Explain the audit procedure in relation to the review of the overall financial statements.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit Procedures, Compliance, Financial Statement Review
Level: Level 2

Topic: Completion Procedures and Reporting
Series: MAY 2017

AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning

Analytical review and risk assessment based on the draft statement of profit or loss for Black Gold Co. Ltd

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical review, Audit Planning, Financial Statements, Risk Assessment
Level: Level 3

Topic: Planning, The audit approach
Series: NOV 2018

Question Tag: Analytical review

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting

Identifies the technique involving ratios and statistical analysis to obtain audit evidence.

PSAF – May 2022 – L2 – SA – Q4 – Government Revenue

Compute financial ratios for Koki Event Center and highlight ways to conduct analytical reviews.

AA – Nov 2021 – L2 – Q5 – Audit Evidence

Discuss analytical review procedures and their purpose in auditing.

AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting

Explanation of audit procedures in reviewing the overall financial statements.

AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning

Analytical review and risk assessment based on the draft statement of profit or loss for Black Gold Co. Ltd

AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting

Identifies the technique involving ratios and statistical analysis to obtain audit evidence.

PSAF – May 2022 – L2 – SA – Q4 – Government Revenue

Compute financial ratios for Koki Event Center and highlight ways to conduct analytical reviews.

AA – Nov 2021 – L2 – Q5 – Audit Evidence

Discuss analytical review procedures and their purpose in auditing.

AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting

Explanation of audit procedures in reviewing the overall financial statements.

AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning

Analytical review and risk assessment based on the draft statement of profit or loss for Black Gold Co. Ltd

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Analytical review

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting

Identifies the technique involving ratios and statistical analysis to obtain audit evidence.

You're reporting an error for "AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting"

PSAF – May 2022 – L2 – SA – Q4 – Government Revenue

Compute financial ratios for Koki Event Center and highlight ways to conduct analytical reviews.

You're reporting an error for "PSAF – May 2022 – L2 – SA – Q4 – Government Revenue"

AA – Nov 2021 – L2 – Q5 – Audit Evidence

Discuss analytical review procedures and their purpose in auditing.

You're reporting an error for "AA – Nov 2021 – L2 – Q5 – Audit Evidence"

AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting

Explanation of audit procedures in reviewing the overall financial statements.

You're reporting an error for "AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting"

AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning

Analytical review and risk assessment based on the draft statement of profit or loss for Black Gold Co. Ltd

You're reporting an error for "AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning"

AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting

Identifies the technique involving ratios and statistical analysis to obtain audit evidence.

You're reporting an error for "AAA – Nov 2011 – L3 – SA – Q17 – Audit Reporting"

PSAF – May 2022 – L2 – SA – Q4 – Government Revenue

Compute financial ratios for Koki Event Center and highlight ways to conduct analytical reviews.

You're reporting an error for "PSAF – May 2022 – L2 – SA – Q4 – Government Revenue"

AA – Nov 2021 – L2 – Q5 – Audit Evidence

Discuss analytical review procedures and their purpose in auditing.

You're reporting an error for "AA – Nov 2021 – L2 – Q5 – Audit Evidence"

AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting

Explanation of audit procedures in reviewing the overall financial statements.

You're reporting an error for "AA – May 2017 – L2 – Q5b – Completion Procedures and Reporting"

AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning

Analytical review and risk assessment based on the draft statement of profit or loss for Black Gold Co. Ltd

You're reporting an error for "AAA – Nov 2018 – L3 – Q1a – The audit approach, Planning"

Our offerings

Contact Info

Customer

Get In Touch

admin