Analytical review is carried out at the planning stage to identify trends and areas of risk or possible misstatement. A further assessment may be made at the end of the job after adjustments have been made if required:
- Amounts are compared on difference and percentage basis, or ratio or gross percentage depending on the analysis
- Analytical review pages pull in figures from the trial balance data - current, prior, difference and percentage columns automatically
- In the case of trading analysis or ratio analysis, specific account lines or subtotals are selected from the trial balance as required
- Comments, key issues, journals, management letter points, review notes, attachments and follow-ups may be added to any item in the analytical review tables:
- Analytical review pages may be shared with the client for comment (see sharing)
- May create more than one version of some pages - say trading a/c division 1 and trading a/c division 2 - edit pages to rename as required (respawning pages)
- Preliminary analytical review (C section) uses the draft column of trial balance
- Final analytical review (X section) uses the final (adjusted) column of trial balance