Required information Analytical Procedures Read the case and answer the questions that follow. Audit standards require analytical procedures at two stages during the audit: at the risk assessment (planning) phase and again at the end of the audit. They are optionally used as a substantive procedure during the course of an audit. CONCEPT REVIEW: While analytical procedures are similar in structure in both phases (or substantive testing, if used) of the audit, they have different purposes and often different conclusions. It is critical that the auditors recognize and respond to these differences. 1. Auditing standards analytical procedures at the planning and concluding stages of the audit. 2. Analytical procedures can also be used as procedures in testing, 3. Analytical procedures at the end of the audit help confirm the reached Often, analytical procedures are considered the most procedures for a strong understanding of the client and its business. 5. Part of performing analytical procedures involves considering 4