An analytical procedure is a part of audit procedure that evaluates the financial statement by comparing the financial data with the non-financial data. A substantive analytical procedure helps to identify the shreds of evidence related to a particular transaction, or it helps to collect the reasonable evidence for a specific assertion. To identify: Two substantive analytical procedures that could use to verify prepaid insurance

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Chapter 14, Problem 14.23P

a.

To determine

Concept Introduction:

An analytical procedure is a part of audit procedure that evaluates the financial statement by comparing the financial data with the non-financial data. A substantive analytical procedure helps to identify the shreds of evidence related to a particular transaction, or it helps to collect the reasonable evidence for a specific assertion.

To identify: Two substantive analytical procedures that could use to verify prepaid insurance

b.

To determine

Concept Introduction:

An analytical procedure is a part of audit procedure that evaluates the financial statement by comparing the financial data with the non-financial data. A substantive analytical procedure helps to identify the shreds of evidence related to a particular transaction, or it helps to collect the reasonable evidence for a specific assertion.

To describe: The substantive analytical procedures that should conduct on the schedule of prepaid insurance

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