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"Analytical procedures" means the analysis of significant ratios and trends, including resulting investigation of fluctuations and relationships that are inconsistent with other relevant information or which deviate from predicted amounts. The purpose of this AAS is to establish standards on the application of analytical procedures during an audit. The AAS, accordingly, deals with aspects like nature and purpose of analytical procedures, analytical procedures in planning the audit, analytical procedures as substantive procedures, analytical procedures in the overall review at the end of the audit, extent of reliance on analytical procedures, investigating unusual items etc.

The AAS is effective for all audits relating to accounting periods beginning on or after April 1, 1997.


Issued in December, 1997.
Published in the Handbook of Auditing Pronouncements, Vol. I, (Edn. 2003).
Also available as a separate publication of the Institute (Price: Rs. 15/-).
ISBN: 81-87072-23-7.

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