【正文】 Analytical screening procedures during the audit can run a different number of times, including the planning phase, the audit of the implementation phase and the pletion of the audit stage. Analytical inspection procedures can lead to a special audit procedures, such as: Transverse the same type of analysis of the ine statement shows an item, such as cost of sales during that period abnormal. This will lead to a careful review of the project cost of sales. The ine statement vertical the same type of analysis by parison with the previous saddle, can be found already for sale to the harmonious proportions of the amount of modity costs and sales revenue. Accounts receivable turnover ratio and industry data parison may show the typical speed of the accounts receivable turnover rate is far below the industry. This shows that a careful analysis of the response to accounts receivable. 4 and debt pared to cash flow has significantly decreased ability to repay the debt with internally generated cash flow is essentially aldehyde test ratio decreased significantly, indicating that the ability to repay current liabilities with current assets other than inventory outside is essentially dropped When the auditors found that the report or an important trend than the string, the next procedure should be carried out to determine why this trend. This study (survey) can often lead to important discoveries. Financial Risk Management Although financial risk has increased significantly in recent years,risk and risk management are not contemporary result of increasingly global markets is that risk may originate with events thousands of miles away that have nothing to do with the domestic is available instantaneously,which means that change,and subsequent market reactions,occur very economic climate and markets can be affected very quickly by changes in exchange rates,interest rates,and modity can rapidly bee problematic. As a result,it is important to ensure financial risks are identified and managed is a key ponent of risk management.What is Risk? Risk provides the basis for terms risk and exposure have subtle differences in their refers to the probability of loss,while exposure is the possibility of loss,although they are often used interchangeably. Risk arises as a result of exposure. Exposure to financial markets affects most organizations,either directly or an organization has financial market exposure,there is a possibility of loss but also an opportunity for gain or market exposure may provide strategic or petitive benefits. Risk is the likelihood of losses resulting from events such as changes in market prices. Event with a low probability of occrring,but that may result in a high loss, are particularly trouble some because they are often not another way,risk is the probable variability of returns. Since it is not always possible or desirable to eliminate risk,understanding it is an important step in determining how to manage exposures and risks forms the basis for an appropriate financial risk management strategy.Accrual liabilities may be based on contractual terms, but typically involve estimates. Pension liabilities, for example, are based on employment contracts but involve actuarial estimates. Deferred revenues may involve obligations to service customers, but also involve estimates that allocate revenues to periods. While contractual liabilities are typically carried on the balance sheet as an unbiased indication of the cash to be paid, accrual accounting estimates are not necessarily unbiased. Conservative accounting, for example, might overstate pension liabilities or defer more revenue than required by contracts with customers. Such biases presumably do not affect value, but they affect accounting rates of return and the pricing of the liabilities relative to their carrying value (the pricetobook ratio). The effect of accounting estimates on operating liability leverage is clear: Higher carrying values for operating liabilities result in higher leverage for a given level of operating assets. But the effect on pro?tability is also clear from leveraging equation (12): While conservative accounting for operating assets increases the ROOA, as modeled in Feltham and Ohlson (1995) and Zhang (2000), higher book values of operating liabilities lever up RNOA over ROOA. Indeed, conservative accounting for operating liabilities amounts to leverage of book rates of return. By leveraging equation (13), that leverage effect ?ows through to shareholder pro?tability, ROCE. And higher anticipated ROCE implies a higher pricetobook ratio.The potential bias in estimated operating liabilities has opposite effects on current and future pro?tability. For example, if a ?rm books higher deferred revenues, accrued expenses or other operating liabilities, and so increases its operating liability leverage, it reduces its current pro?tability: Current