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Article 1. The present Standards are hereby formulated in accordance with the National General Auditing Standards of the People's Republic of China, for the purpose of regulating the acts of auditors for their applying analytic review, and guaranteeing the quality of auditing work. Article 2. The "analytic review " mentioned in the present Standards refers to the auditing method that auditors use for making research and analysis on the relevant revenue and expenditure, the financial income and expenditure£¬and economic indexes of the audited entities, and paying close attention to the abnormal alteration and abnormal items. Article 3. Auditors shall determine the ways, scope and extent for applying the analytic review through professional judgment. Article 4. The main purpose for auditors to apply the analytic review shall be: during the period of compiling auditing schemes, assisting auditors to determine the nature, time, scope and emphasis of other auditing process; during the period of carrying out auditing, the analytic review shall be directly taken as the material testing procedure to improve the auditing efficiency; during the period of auditing report, making overall review on revenue and financial materials, so as to form or support auditing conclusions. Article 5. Before carrying out analytic review, auditors may refer to the existing analyzed materials of the audited entity, the materials provided by the audited entity, and the relevant materials obtained through other channels. Article 6. Auditors may, when applying the analytic review method, compare the revenue and financial materials and other materials concerning the economic activities of the audited entity with the following materials: (1) The materials of the same industry; (2) The similar materials of the audited entity in the previous term; (3) Materials of the audited entity concerning its plan, budget, and ration; (4) Data estimated by auditors through their professional judgment; and (5) Other materials. Article 7. The analytic review methods often used shall include: comparative analysis, ratio analysis, trend analysis and structural analysis. Article 8. Auditors shall, when applying analytic review, consider whether there is certain kind of correlativity between the data. If no anticipated correlativity exists, the auditors shall not apply the analytic review. Article 9. Auditors shall, when compiling auditing schemes, apply the analytic review to know the basic conditions of the audited entity, and disclose the major errors that may exist in its revenue and expenditure or financial income and expenditure, so as to determine the nature, time, scope and emphasis of other auditing process. Article 10. Auditors may, when carrying out auditing, use the analytic review to disclose the items of major errors that may exist in the revenue income and expenditure or financial income and expenditure, so as to determine the emphasis of auditing, and reduce the workload of auditing test. Article 11. Auditors shall consider the following factors when making material test by applying analytic review: (1) The importance of the audited items concerned; (2) The healthiness and validity of the relevant internal control; (3) The availability, relativity, comparability, and reliability of the revenue and financial materials used for analytic review and the relevant materials; (4) The purpose of analytic review and the extent for relying on its result; (5) The object of analytic review and the information resources thereof; and (6) The auditing methods that may be replaced by analytic review. Article 12. When compiling auditing report and drawing auditing conclusions, the auditors shall verify the conclusions drawn by other auditing methods by using analytic review, and make judgment on the overall rationality of the revenue and financial status or that of the management achievements of the audited entity, so as to determine whether to increase the examination contents or not. Article 13. The reliability of analytic review conclusions may be influenced by the following factors: (1) The purpose of the analytic review; (2) The importance of the items the analytic review concerns; (3) The consistency of the analytic review conclusion and conclusions of other auditing process, which is carried out for the same auditing target; (4) The accuracy of the anticipated analytic review conclusions; (5) Evaluation on the inherent risk and control risk; and (6) The ability and experience of the auditors who carry out analytic review. Article 14. In case the internal control of the audited entity is not perfect, the auditors may not excessively rely on or only rely on analytic review conclusions. If the internal control is invalid, the auditors may not directly rely on the analytic review conclusions. Article 15. In case there are evidences in the analytic review conclusions showing that there is any major abnormal fluctuation or serious deviation of the anticipated materials, the auditors shall require the audited entity to make explanation and statement, and obtain the auditing evidences that can support such explanation and statement. If the audited entity fails to make explanation or statement, or its explanation or statement is not persuasive, the auditors shall take other auditing methods to obtain corresponding auditing evidences. Article 16. The right to interpret the present Standards shall remain with the National Audit Office. Article 17. The present Standards shall be implemented as of February 1, 2004. |
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