A study on the level of perception and usefulness of audited financial statement and annual reports among investors in India

Analytical procedures have become an increasingly important part of financial statement auditing and have received significant attention in the Auditing literature. The use of Analytical procedures is prescribed by auditing standards at both the planning and conclusion stages of the audit. This study describes how auditors perform analytical procedures at perception audit in financial reporting. I conducted an experiment in which subjects performed analytical procedures and answered the questions. This study analyzes the decision effectiveness of audit reports in, Mysore city. The sample respondents were selected from this city to enquire into the perceptions of respondents towards the effectiveness auditing information in their investment decisions in view of the city having heterogeneous, economic, social and cultural environment, which represents the country adequately. The empirical results have been presented under Universal findings. The major findings were evidenced with regard to the effectiveness of audit report.