Automated Modules in Audit Software for Analytical Procedures

Analytical Procedures (AP) are an essential stage in the external audit process, playing a fundamental role in understanding the entity and obtaining relevant evidence. They are defined and regulated by the International Standards on Auditing (ISAs), which are guidelines established by the International Federation of Accountants (IFAC) for the practice of auditing. The importance of Analytical Procedures lies in their ability to provide valuable insights into the financial statements and detect possible errors, distortions or anomalies. There are two main types of analytical procedures: preliminary analytical procedures and substantive analytical procedures. There is little research on APs available in Portuguese, with the last relevant research published in Portugal in 2009. More recently, a study in Brazil looked at APs and the problems related to their practical application by auditors, some of these problems being the ‘monetisation of time’ and the difficulty in efficiency. In this context, this article seeks to highlight the relevance of using Information Technology (IT), through processes with automated modules, or Robotic Process Automation (RPA), to help the auditor carry out APs more consistently, based on data from external sources using tools such as web scraping and application programming interfaces (API), combined with the information provided by the auditor. This approach saves time and leads to a more efficient audit. Keywords: Analytical Procedures, API, Web Scraping, Information Technology, External Audit.