The use of analytical procedures at the audit planning stage

The article considers the main stages of an audit. They allow to achieve the main goal of audit planning, that is, the implementation of a reporting test to identify possible errors; reporting testing for probable errors; horizontal and vertical analysis and "reading" of reports; express analysis of reporting. At the stage of planning the audit, after the disclosure of inconsistencies in the forms of financial statements, significant changes in the dynamics and structure, it is possible to determine the coefficients and at the same time the method of express analysis of the statements is used. The article focuses on the main mistakes in financial reporting. The main ratios for the analysis of financial statements are also given: liquidity ratios; financial stability; turnover; profitability. The analytical procedures presented in the article, which are guided by auditors at the stage of planning an audit, can be divided into the following groups. In addition, the division of audit procedures helps to identify problems in the provided information in a timely manner when disclosing it in the financial statements, and is aimed at identifying audit risks at the substantive stage. The use of analytical procedures at the stage of planning an audit allows you to create an audit program with minimal time costs, reduce the risks of problems that are associated with a lack of time and skills of personnel.

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