The Extent of Use of Analytical Procedures by External Auditors in Jordan in the Light of ISA 520

Hasan Flayyeh Al Qtaish and Mohammed Hassan Makhlouf

International Journal of Economics and Finance, 2019, vol. 11, issue 3, 77-88

Abstract: The aim of this study was to identify the substance of the Audit Standard No. 520 concerning the analytical procedures, and evaluating the use of auditors in Jordan for the analytical procedures. Moreover, the study sought to make valuable recommendations to develop audit methods and address weaknesses to take advantage of financial analysis methods. To achieve the objectives of the study, questionnaire was developed included (38) questions distributed to a sample of auditors practitioners of the audit profession and numbered (46) auditors, have been recovered, (42) of them were collected, (41) Questionnaires were used in analysis; One sample t-test was used to test the hypotheses of the study. the researcher found: that the auditors are not using enough analytical procedures as the arithmetic average (3.49). Because they use financial ratios moderately where the arithmetic average (3.45), the arithmetic average of the comparable financial ratios and information extracted with pre-specified criteria (3.69). Finally, researchers suggested some of the recommendations of the most important need for the competent authorities to hold training courses, workshops and seminars related to the application of analytical procedures, and to verify the commitment and the work of audit firms auditors applying quality control standards, and be subject to peer review.

Keywords: ISA 520; analytical procedures; external auditor; Jordan (search for similar items in EconPapers)
Date: 2019
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