1. Analytical procedures are used to help understand a business and industry and they help to identify possible misstatements, reduce detailed tests, and assess going-concern issues. According to AICPA, a going-concern is when an accountant believes that a company will not liquidate in the near future. While employed as an auditor, I noticed several banks were issuing loans to non-profit organizations that showed signs of not having the wherewithal to repay loans in the future nor operate as a going-concern. Later, some of the non-profit organizations would default on the loans and it would take years before the bank could foreclose on the companies' assets. So why issue the loan if this could occur? Political issues, poor decision making, etc.? Response should be in own words with a minimum of 75 word count.
Management?s decisions to award the loan to the organization based on previous historical
background hence filling pressure to the accountant to award loans despite knowledge on current
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