审计学一种整合的方法1ppt课件.ppt

AuditPlanningandAnalyticalProcedures Chapter8 LearningObjective1 Discusswhyadequateauditplanningisessential ThreeMainReasonsforPlanning 1 Toobtainsufficientcompetentevidenceforthecircumstances 2 Tohelpkeepauditcostsreasonable 3 Toavoidmisunderstandingwiththeclient RiskTerms Acceptableauditrisk Inherentrisk PlanninganAuditandDesigninganAuditApproach Acceptclientandperforminitialauditplanning Understandtheclient sbusinessandindustry Assessclientbusinessrisk Performpreliminaryanalyticalprocedures PlanninganAuditandDesigninganAuditApproach Setmaterialityandassessacceptableauditriskandinherentrisk Understandinternalcontrolandassesscontrolrisk Gatherinformationtoassessfraudrisks Developoverallauditplanandauditprogram LearningObjective2 Makeclientacceptancedecisionsandperforminitialauditplanning InitialAuditPlanning Clientacceptanceandcontinuance Identifyclient sreasonsforaudit Obtainanunderstandingwiththeclient Developoverallauditstrategy LearningObjective3 Gainanunderstandingoftheclient sbusinessandindustry UnderstandingoftheClient sBusinessandIndustry Factorsthathaveincreasedtheimportanceofunderstandingtheclient sbusinessandindustry Globaloperations Informationtechnology Humancapital UnderstandingoftheClient sBusinessandIndustry Industryandexternalenvironment Businessoperationsandprocesses Managementandgovernance Objectivesandstrategies Measurementandperformance Understandclient sbusinessandindustry IndustryandExternalEnvironment Reasonsforobtaininganunderstandingoftheclient sindustryandexternalenvironment 1 Risksassociatedwithspecificindustries2 Inherentriskscommontoallclientsincertainindustries3 Uniqueaccountingrequirements BusinessOperationsandProcesses Factorstheauditorshouldunderstand MajorsourcesofrevenueKeycustomersandsuppliersSourcesoffinancingInformationaboutrelatedparties TourthePlantandOffices Byviewingthephysicalfacilities theauditorcanassesphysicalsafeguardsoverassetsandinterpretaccountingdatarelatedtoassets IdentifyRelatedParties Arelatedpartyisdefinedasanaffiliatedcompany aprincipalowneroftheclientcompany oranyotherpartywithwhichtheclientdeals whereoneofthepartiescaninfluencethemanagementorpoliciesoftheother ManagementandGovernance Managementestablishesthestrategiesandprocessesfollowedbytheclient sbusiness Governanceincludestheclient sorganizationalstructure aswellastheactivitiesoftheboardofdirectorsandtheauditcommittee Corporatecharterandbylaws Meetingminutes Codeofethics CodeofEthics InresponsetotheSarbanes OxleyAct theSECnowrequireseachpubliccompanytodisclosewhetherishasadoptedacodeofethicsthatappliestoseniormanagement TheSECalsorequirescompaniestodiscloseamendmentsandwaiverstothecodeofethics ClientObjectivesandStrategies Strategiesareapproachesfollowedbytheentitytoachieveorganizationalobjectives Auditorsshouldunderstandclientobjectives Effectivenessandefficiencyofoperations Financialreportingreliability Compliancewithlawsandregulations MeasurementandPerformance Theclient sperformancemeasurementsystemincludeskeyperformanceindicators Examples marketsharesalesperemployeeunitsalesgrowth Websitevisitorssame storesalessales squarefoot Performancemeasurementincludesratioanalysisandbenchmarkingagainstkeycompetitors LearningObjective4 Assessclientbusinessrisk AssessClientBusinessRisk Clientbusinessriskistheriskthattheclientwillfailtoachieveitsobjectives Whatistheauditor sprimaryconcern Materialmisstatementsinthefinancialstatementsduetoclientbusinessrisk Client sBusiness Risk andRiskofMaterialMisstatement Understandclient sbusinessandindustry Industryandexternalenvironment Businessoperationsandprocesses Managementandgovernance Objectivesandstrategies Measurementandperformance Assessclientbusinessrisk Assessriskofmaterialmisstatements Sarbanes Oxley newtitle TheSarbanes OxleyActrequiresthatmanagementcertifyithasdesigneddisclosurecontrolsandprocedurestoensurethatmaterialinformationaboutbusinessrisksismadeknowntothem Italsorequiresthatmanagementcertifyithasinformedtheauditorandauditcommitteeofanysignificantdeficienciesininternalcontrol EnterpriseRiskManagement Enterpriseriskmanagement ERM hasemergedasanewparadigmformanagingrisk ERMintegratesandcoordinatesriskmanagementacrosstheentireenterprise LearningObjective5 Performpreliminaryanalyticalprocedures PreliminaryAnalyticalProcedures Comparisonofclientratiostoindustryorcompetitorbenchmarksprovidesanindicationofthecompany sperformance Preliminarytestscanrevealunusualchangesinratios ExamplesofPlanningAnalyticalProcedures Liquidityactivityratio Inventoryturnover3 365 20 Abilitytomeetlong termobligations Debttoequity1 732 51 Profitabilityratio Profitmargin0 050 07 Short termdebt payingability Currentratio3 865 20 Client Industry SelectedRatios SummaryofthePartsofAuditingPlanning Amajorpurposeistogainanunderstandingoftheclient sbusinessandindustry KeyPartsofPlanning Acceptclientandperforminitialplanning Newclientacceptanceandcontinuance Identifyclient sreasonsforaudit Obtainanunderstandingwithclient Stafftheengagement KeyPartsofPlanning Understandtheclient sbusinessandindustry Understandclient sindustryandexternalenvironment Understandclient soperations strategies andperformancesystem KeyPartsofPlanning Assessclientbusinessrisk Evaluatemanagementcontrolsaffectingbusinessrisk Assessriskofmaterialmisstatements KeyPartsofPlanning Performpreliminaryanalyticalprocedures LearningObjective6 Statethepurposesofanalyticalproceduresandthetimingofeachpurpose AnalyticalProcedures RequiredintheplanningphaseOftendoneduringthetestingphaseRequiredduringthecompletionphase SAS56emphasizestheexpectationsdevelopedbytheauditor TimingandPurposesofAnalyticalProcedures Required PlanningPhase Purpose Understandclient sindustryandbusiness Primarypurpose Assessgoingconcern Secondarypurpose Indicatepossiblemisstatements attentiondirecting Primarypurpose Reducedetailedtests Secondarypurpose Secondarypurpose Primarypurpose Secondarypurpose Primarypurpose TestingPhase Required CompletionPhase LearningObjective7 Selectthemostappropriateanalyticalprocedurefromamongthefivemajortypes FiveTypesofAnalyticalProcedures Compareclientdatawith 1 Industrydata2 Similarprior perioddata3 Client determinedexpectedresults4 Auditor determinedexpectedresults5 Expectedresultsusingnonfinancialdata CompareClientandIndustryData Inventoryturnover3 43 53 93 4Grossmargin26 3 26 4 27 3 26 2 Client Industry 2007 2006 2007 2006 CompareClientDatawithSimilarPriorPeriodData Netsales 143 086100 0 131 226100 0Costofgoodssold103 24172 194 87672 3Grossprofit 39 84527 9 36 35027 7Sellingexpense14 81010 312 8999 8Administrativeexpense17 66512 416 75712 8Other1 6891 22 0351 6Earningsbeforetaxes 5 6814 0 4 6593 5Incometaxes1 7471 21 4651 1Netincome 3 9342 8 3 1942 4 2007 000 Prelim ofNetsales 2006 000 Prelim ofNetsales LearningObjective8 Computecommonfinancialratios CommonFinancialRatios Short termdebt payingability Liquidityactivityratios Abilitytomeetlong termdebtobligations Profitabilityratios Short termDebt payingAbility Currentratio CurrentassetsCurrentliabilities Cashratio Quickratio LiquidityActivityRatios Accountsreceivableturnover NetsalesAveragegrossreceivables Daystocollectreceivable 365daysAccountsreceivableturnover Inventoryturnover CostofgoodssoldAverageinventory Daystosellinventory 365daysInventorytu