difference between Substanive procedure and substantive analaytical procedure

A substantive procedure is one in which you try to verify directly figures in the FS without having to rely on controls. Often you have to look at a high proportion of transactions to be satisfied that there is no material misstatement. Examples include receivables circularisations and attendance at inventory counts.

An analytical procedure is, typically, comparing ratios from one period to the previous period (or similar companies or the budget). For example looking at the receivables collection period. Analytical procedures are used at the planning stage to identify risk areas and can also be used as part of substantive tests. For example, if the receivables period is constant form one year to the next that is some evidence that the receivables figure does not contain a material misstatement. APs are also used at the very end, review stage of audits.

Substantive analytical procedures are analytical procedures used in substantive tests – liek the receivables collection period, above.