Subject. This article examines the relationship between possible financial indicators and financial statements items, which makes it possible to form a set of monitored indicators, the monitoring of which makes it possible to continuously assess the risk of material misstatement of accounting information and respond to it accordingly. Objectives. The article aims to substantiate the selection of monitored financial indicators used in analytical audit procedures that can help assess the risk of material misstatement of accounting information in a continuous manner. Methods. For the study, we used the methods of logical analysis and synthesis. Results. The study of the relationship between possible financial indicators and financial statements items helped form a set of indicators, monitoring the rate of change of which in the process of online audit makes it possible to continuously assess the risk of material misstatement of accounting information and respond to it accordingly. The article offers a list of monitored financial indicators. Conclusions. The use of analytical procedures consisting in monitoring the proposed financial indicators will help assess the risk of material misstatement of financial results and balance sheet assets, which will make it possible to respond to it in a timely manner.
Keywords: financial statements audit, analytical procedures, controlled financial indicators, risk assessment of material misstatement
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