The usage of the analitycal procedures should be performed in conjunction with other audit procedures in order to obtain the best results. The auditor plans to obtain adequate sufficient information for fundamenting his opinion that „the financial statements are prepared, in all material aspects, in compliance with a general financial reporting framework”.
If the auditor decides to test less than 100% of the population, with the objective to make inferences over the whole population, then the audit sampling technique is used.
The analitycal procedures will help the auditor to understand the existing mechanisms within the audited entity and can explain the trends within the information presented in the financial statements.