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Assignment on Analytical Procedures

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Added on  2021-05-31

Assignment on Analytical Procedures

   Added on 2021-05-31

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Running head: ANALYTICAL PROCEDURES 1Analytical ProceduresNameInstitution
Assignment on Analytical Procedures_1
ANALYTICAL PROCEDURES 2Analytical processes refer to the procedure in auditing that helps auditors getinformation concerning changes in the business and thus point out potential risks in otheraudit processes by comparing financial and non- financial data. The analytical procedures areused in carrying out risks assessments and as substantive methods during the audit. Analytical procedures as risk assessment procedures (ASA 315)Analytical procedureExplanationUnderstanding the nature of the organization.In this, several questions are asked. One is on the market overview of the company, where the main clients of the company are identified. The other aspect is on who regulates the stated clients, where theSecurities and Exchange Commission is the common regulatory agency used. The business strategy of the company is required in this step. Coca-Cola Company is the organization in this case, where the clients are the non -alcoholic drinks consumers. The strategy used by the company is ensuring thatthe goods demanded by the buyers are supplied satisfactorily. Where the market served by the company and the strategy used are compatible, like the case with Coca-Cola,it is said that the company is safe from risks.Evaluating the quality of the organization’s The type of management used in an
Assignment on Analytical Procedures_2

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