Effective and Efficient Audits: Analytical Procedures

Canadian Auditing Standards (CAS 315 and CAS 520) require analytical procedures at all stages of the audit. Preliminary analytics are performed at the risk assessment phase to identify balances that require an audit response. Substantive analytical procedures are a powerful tool in obtaining sufficient appropriate audit evidence. Final analytics are performed during the completion phase of engagement to ensure all risks have been addressed.

CAS 520 sets out the requirements in performing substantive analytics in a 5-step approach.  Using case studies and practical examples, this course will address how to perform and document each step including understanding the various types of analytical procedures, determining their suitability, developing expectations, and investigating differences.  

Learn about the requirements of analytical procedures along with how to incorporate preliminary, substantive, and final analytics into audit engagements in a practical and efficient manner. This course illustrates preliminary and final analytics along with guidance and ideas on how to perform and document in an efficient and effective manner saving time on engagements. 

Learning Objectives  

Upon completing this seminar, you should be able to:  

  • Appreciate CAS requirements related to analytical procedures
  •  Implement an efficient approach for performing preliminary and final analytics 
  • Explain the difference between substantive analytical procedures and variance analysis
  • Identify and understand how to apply different types of analytical procedures
  • Know how to implement a 3-step approach to journal entry testing
  • Develop a process for setting expectations
  • Document procedures performed and conclusions reached
  • Identify and overcome barriers in performing analytical procedures 

 Content 

In this seminar, you will gain knowledge about the following topics: 

  • Introduction and overview of preliminary, substantive, and final analytics
  • Performing and documenting preliminary analytics 
  • Substantive analytical procedures requirements overview
  • Types of substantive analytical procedures
  • Examination and guidance on the CAS 520 5-step approach to performing substantive analytics
  • Practical application and documentation examples
  • Performing and documenting final analytics
  • Review of key points and action planning 

Applicable for 

For auditors who are looking to strengthen their understanding of analytical procedures in accordance with CAS 520, to determine where to incorporate into engagements to be effective and how to document efficiently. 

Presented by PD Partner: Kirsten Albo, FCPA, FCA, ASK KSA Consulting Inc 


What to Expect

  •  Two emails will be sent from CPA Manitoba following your registration: one to confirm your order and one including information on how to access the course through your Learning Hub.
  • Once sent, these emails can also be found in the Communication tab of your CPA Manitoba Member Portal.
  • This course is designed for participants to view while following along with the course material provided.
  • This self-study course allows you to save your progress and return to continue at a later date. 
  • A certificate of completion can be provided.*  

Access to this course will be available for 180 days after registration. After this time, access to the course will no longer be available. 

*To receive a certificate of completion, users must complete all course elements, including a short quiz at the end of the course. Unlimited quiz attempts are available until a passing grade of 80% or better is achieved. After you have achieved 80% or better, you will no longer be able to access the quiz. 

CPA Manitoba PD Terms and Conditions: https://cpamb.ca/pd/pd/Terms-and-Conditions.aspx
For questions regarding this course, including registration and access, email [email protected]. 
When
8/1/2025 - 8/31/2026 11:59 PM
Central Daylight Time

Sign In to Register