دور المراجعة التحليلية في الحد من مخاطر المراجعة

Abstract

Abstract This research investigated the role of analytical auditing in reducing audit risk. The research problem is well represented in how to exert due professional care to detect audit risk, in light of the abundance of lawsuits filed against audit firms and the consequent responsibilities to be incurred by the external auditor, in particular, and audit profession in general. The research significance stems from the significance of the services rendered by the audit profession to the different users of the financial statements. In this regard, the report of the external auditor deemed as a final product upon which the financial statements' users depend in seeking information about the financial position of the enterprise and its ability to satisfy its commitment towards others, as well as to keep on continuity as a strong and steadfast enterprise. The research aims to identify the analytical auditing and the methods and objectives of the same and shed more light on the risk surrounding the process of audit. The research further aims to know how to effect using the analytical auditing procedures and techniques to reduce audit risk. To achieve the research objectives and effect the research problem the following hypotheses have been developed: First hypothesis: There is a correlation that is statistically significant between the level in which the external auditor depends on the method of analytical auditing and the reduction of inherent risk level. Second hypothesis: There is a correlation that is statistically significant between the level in which the external auditor depends on the method of analytical auditing and the reduction of internal control risk. Third hypothesis: There is a correlation that is statistically significant between the level in which the external auditor depends on the method of analytical auditing, and the reduction of audit procedures risk. The research used the historical approach to review prior literature in relation to research subject, the deductive approach to determine the research problem and set the hypotheses, the inductive approach to test the hypotheses and the analytical descriptive approach to effectthe field study. Based on said facts, the research has reached a number of research findings, the most significant of which are the following: The research findings have shown that, the use of analytical auditing reduces the risk of statistical sample selection. The research findings have also shown that, the use of analytical auditing procedures reduces the risk of external auditor’s professional judgment upon making examination of the financial statements. The research findings have 9 further revealed the fact that the audit procedures as well as the level of its implementation depends on the external auditor’s Professional and personal judgment. In light of the referred to above hypotheses, the research concluded with a set of recommendations, including the following: The research fully recommended having particular attention to the analytical auditing as one of the important methods of modern audit used in various fields under the technological progress. The research strongly recommended conducting training sessions on a regular basis for the auditors in the methods of analytical auditing to refine their talents and increase their knowledge. The research particularly recommended the external auditor to set an appropriate audit plan before being engaged in any audit process.