Ratio analysis, regression and other analytical procedures can help make your audit more efficient and effective. Analytics can be used to identify misstatements with less effort and paperwork than traditional, manual testing. But it’s critical to tell your auditor about any recent changes to your operations, accounting methods or market conditions. This helps auditors develop more reliable expectations and identify plausible explanations for material discrepancies. Contact us about ways to incorporate more analytics into next year’s audit.
