Marketable Securities - Data Analytics to Traditional Procedures Map
This Audit Data Analytics to Audit Procedures - Mapping document (mapping document) is designed to provide illustrative information with respect to the subject matter covered. It does not establish standards or preferred practices. The material was prepared by
AICPA staff and has not been considered or acted upon by senior technical committees or the AICPA board of directors and does not represent an official opinion or position of the AICPA. It is provided with the understanding that the staff and publisher are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. The staff and publisher make no representations, warranties, or guarantees about, and assume no responsibility for, the content or application of the material contained herein and expressly disclaim all liability for any damages arising out of the use of, reference to, or reliance on such material. Please note that the audit data analytic vendor tools mentioned are referenced as examples only. They are not endorsed by or affiliated with the AICPA. Also note that the auditing standard linked to each "Traditional Audit Procedure" is included to offer additional guidance. The "Traditional Audit Procedure" is not limited to the standard noted, and additional standards may need to be considered in order to comply with requirements.
In addition, please note the following:
* Please note that this document is not intended to be all-encompassing. If you rely on system-generated reports and data you will need to establish a basis for what ITGCs will be reviewed and how they will be tested.
You may also need to perform procedures to test the completeness and accuracy of the data provided by the entity in order to rely upon it for audit procedures. This goes beyond the scope of this current document.
** Please note that the auditing standard linked to each "Traditional Audit Procedure" is included to offer additional guidance. The "Traditional Audit Procedure" is not limited to the standard noted.
Additional auditing standards should be reviewed and consulted throughout the audit process.
*** Please note that the audit data analytics are referenced as examples only. They are not endorsed by or affiliated with the AICPA.
**** The assertions tested are a function of the actual audit procedures performed. Auditors may reach different conclusions about the relevant assertions tested based upon the procedures performed.