...Janet L. Colbert; C. Wayne Alderman Internal auditors should consider the risks pertinent to an auditee when planning the work. Internal auditors may select a procedures‐driven approach or a risk‐driven approach. In a procedures‐driven approach, the audit procedures are chosen without full...

...Janet L. Colbert Analytical procedures entail estimating an expected value for an account and comparing the estimation to the book value. External auditors make extensive use of analytical procedures. By applying analytical procedures before the external audit is performed, the management...