Auditing refers to a systematic and independent examination of accounts, books, documents and vouchers of an organization to clarify whether financial statements presents true or falls.  Auditing Procedures attempts to verify that the books of accounts are properly maintained as per the Law.  It is the process of reviewing and investigating any aspect of business, even financial or non-financial.  Audits can show the normal flow of business in a company.  As a result of an audit, a company may thoroughly evaluate and improve the finance and the governance process of overall business. Auditing procedures is for obtaining audit evidence.

Analytical Auditing Procedures

  1. prior periods
  2. budgets
  3. forecasts
  4. similar industries and so on.

Analytical auditing procedures are performed at three stages of audit, that is at start, in middle and at end of the audit.