审计英语课件第二章.ppt

Chapter2AuditingStandards 2 1GAAS GenerallyAcceptedAuditingStandards 2 2QualityControl2 3ChinaStandardsonAuditing Review OtherAssurance RelatedServicesandQualityControl LearningObjectives Afterstudyingthischapter youshouldbeableto1 UnderstandtenGenerallyAcceptedAuditingStandards 2 Comprehenddefinitionofanassuranceengagement 3 Distinguishassertion basedengagementsanddirectreportingengagements 4 Learntheelementsofanassuranceengagement 5 Distinguishreasonableassuranceandlimitedassurance 6 Learnelementsofqualitycontrol Standardsareestablishedtomeasurethequalityofperformanceofindividualsandorganizations StandardsrelatingtotheaccountingprofessionconcernthemselveswithCPAprofessionalqualities withthejudgmentexercisedbyCPAsintheperformanceoftheirprofessionalengagements andwithaCPAfirm squalitycontrol 2 1GAAS GenerallyAcceptedAuditingStandards 2 1 1TenGenerallyAcceptedAuditingStandards2 1 2StatementsonauditingStandards2 1 3InternationalStandardsonAuditing Glossary GAAS GenerallyAcceptedAuditingStandards 一般公认审计准则generalstandards一般准则standardsoffieldwork现场工作准则standardsofreporting报告准则dueprofessionalcare合理的职业谨慎statementsonauditingstandards审计准则说明书InternationalStandardsonAuditing国际审计准则InternationalAuditingandAssuranceStandardsBoard IAASB 国际审计与鉴证准则理事会InternationalFederationofAccountants IFAC 国际会计师联合会 Auditingstandardsaregeneralguidelinestoaidauditorsinfulfillingtheirprofessionalresponsibilitiesintheauditofhistoricalfinancialstatements Theseincludeconsiderationofprofessionalqualitiessuchascompetenceandindependence reportingrequirements andevidence 2 1 1TenGenerallyAcceptedAuditingStandards GENERALSTANDARDSSTANDARDSOFFIELDWORKSTANDARDSOFREPORTING DevelopedbytheAICPAin1947 10generallyacceptedauditingstandards GAAS representthebasicframeworkofauthoritativeauditingguidelinesforprofessionalaccountants Therearethreecategoriesforthe10generallyacceptedauditingstandards theyaregeneralstandards standardsoffieldwork andreportingstandards GENERALSTANDARDS Thegeneralstandardsstresstheimportantpersonalqualitiesthattheauditorshouldpossess 1 Theauditistobeperformedbyapersonorpersonshavingadequatetechnicaltrainingandproficiencyasanauditor 2 Inallmattersrelatingtotheassignment anindependenceinmentalattitudeistobemaintainedbytheauditororauditors 3 Dueprofessionalcareistobeexercisedintheplanningandperformanceoftheauditandthepreparationofthereport AdequateTechnicalTrainingandProficiency Thefirstgeneralstandardisnormallyinterpretedasrequiringtheauditortohaveformaleducationinauditingandaccounting adequatepracticalexperiencefortheworkbeingperformed andcontinuingprofessionaleducation IndependenceinMentalAttitude Asweallknowindependenceisveryimportanttoauditingprofession soCPAfirmsarerequiredtofollowseveralpracticestoincreasethelikelihoodofindependenceofallpersonnel Forexample eachpartnerandemployeemustansweran independencequestionnaire annually dealingwithsuchthingsasstockownershipandmembershiponboardofdirectors DueProfessionalCare Duecareintheperformanceofallaspectsofauditingmeansthattheauditorhasaprofessionalresponsibilityforfulfillinghisdutiesdiligentlyandcarefully Asanillustration duecareincludesconsiderationofthecompletenessoftheworkingpapers thesufficiencyoftheauditevidence andtheappropriatenessoftheauditreport Asaprofessional theauditormustavoidnegligenceandbadfaith buttheauditorisnotexpectedtomakeperfectjudgmentsineveryinstance STANDARDSOFFIELDWORK Thestandardsoffieldworkconcernevidenceaccumulationandotheractivitiesduringtheactualconductoftheaudit 1 Theworkistobeadequatelyplannedandassistants ifany aretobeproperlysupervised 2 Asufficientunderstandingofinternalcontrolistobeobtainedtoplantheauditandtodeterminethenature timing andextentofteststobeperformed 3 Sufficientcompetentevidentialmatteristobeobtainedthroughinspection observation inquiries andconfirmationstoaffordareasonablebasisforanopinionregardingthefinancialstatementsunderaudit AdequatePlanningandSupervision Thefirststandarddealswithascertainingthattheengagementissufficientlyplannedtoensureanadequateauditandpropersupervisionofassistants Supervisionisessentialinauditingbecauseaconsiderableportionofthefieldworkisdonebylessexperiencedstaffmembers UnderstandtheClient sInternalControl Oneofthemostwidelyacceptedconceptsinthetheoryandpracticeofauditingistheimportanceoftheclient ssystemofinternalcontroltogeneratereliablefinancialinformation Iftheauditorisconvincedthattheclienthasanexcellentsystemofinternalcontrol onethatincludesadequateinternalcontrolsforprovidingreliabledataandforsafeguardingassetsandrecords theamountofauditevidencetobeaccumulatedcanbesignificantlylessthanwhencontrolsarenotadequate Insomeinstance internalcontrolmaybesoinadequateastoprecludeconductinganeffectiveaudit SufficientCompetentEvidence Thedecisionsabouthowmuchandwhattypesofevidencetoaccumulateforagivensetofcircumstancesareonesrequiringprofessionaljudgment STANDARDSOFREPORTING 1 Thereportshallstatewhetherthefinancialstatementsarepresentedinaccordancewithgenerallyacceptedaccountingprinciples 2 Thereportshallidentifythosecircumstancesinwhichsuchprincipleshavenotbeenconsistentlyobservedinthecurrentperiodinrelationtotheprecedingperiod 3 Informativedisclosuresinthefinancialstatementsaretoberegardedasreasonablyadequateunlessotherwisestatedinthereport 4 Thereportshalleithercontainanexpressionofopinionregardingthefinancialstatements takenasawhole oranassertiontotheeffectthatanopinioncannotbeexpressed thereasonsthereforeshouldbestated Inallcaseswhereanauditors nameisassociatedwithfinancialstatements thereportshouldcontainaclear cutindicationofthecharacteroftheauditors work ifany andthedegreeofresponsibilitytheauditoristaking Thefourreportingstandardsrequiretheauditortoprepareareportonthefinancialstatementstakenasawhole includinginformativedisclosures Thereportingstandardsrequirethatthereportstatewhetherthestatementsarepresentedinaccordancewithgenerallyacceptedaccountingprinciplesandalsoidentifyanycircumstancesinwhichgenerallyacceptedaccountingprincipleshavenotbeenconsistentlyappliedinthecurrentyearcomparedwiththepreviousone 2 1 2StatementsonauditingStandards The10generallyacceptedauditingstandardsaretoogeneraltoprovidemeaningfulguidancetoauditors MorespecificguidancecanbefoundintheStatementsonAuditingStandards SASsinterpretthe10generallyacceptedauditingstandardswhicharethemostauthoritativereferencesavailabletoauditors 2 1 3InternationalStandardsonAuditing Duetotheglobalizingofbusinessandcapitalmarkets thereisastronginterestandtrendtowardsdevelopinguniformaccountingandauditingstandardsthroughouttheworld Therefore representativesfromdifferentcountriesareworkingtogetheronstandards settingprojectstocoordinatenewinternationalauditingstandards InternationalStandardsonAuditing ISAs areissuedbytheInternationalAuditingandAssuranceStandardsBoard IAASB ofInternationalFederationofAccountants IFAC TheIFACistheworldwideorganizationfortheaccountancyprofession Foundedin1977 itsmissionistoservethepublicinterest IFACwillcontinuetostrengthentheworldwideaccountancyprofessionandcontributetothedevelopmentofstronginternationaleconomiesbyestablishingandpromotingadherencetohigh qualityprofessionalstandards furtheringtheinternationalconvergenceofsuchstandardsandspeakingoutonpublicinterestissueswheretheprofession sexpertiseismostrelevant AndtheIAASBworkstoimprovetheuniformityofauditingpracticesandrelatedservicesthroughouttheworldbyissuingpronouncementsonavarietyofauditandattestfunctionsandpromotingtheiracceptanceworldwide 2 2QualityControl 2 2 1ElementsofQualityControl2 2 2PeerReview Glossary qualitycontrol质量控制peerreview同业互查 TheCPAfirmsshouldestablishasystemofqualitycontroldesignedtoprovideitwithreasonableassurancethatafirmanditspersonnelcomplywithprofessionalstandardsandregulatoryandlegalrequirements andthatreportsissuedbythefirmorengagementpartnersareappropriateinthecircumstances 2 2 1ElementsofQualityControl LeadershipResponsibilitiesforQualitywithintheFirmsEthicalRequirementsAcceptanceandContinuanceofClientRelationshipsandSpecificEngagementsHumanResourcesEngagementPerformanceMonitoring LeadershipResponsibilitiesforQualitywithintheFirms Thefirmsshouldestablishpoliciesandproceduresdesignedtopromoteaninternalculturebasedontherecognitionthatqualityisessentialinperformingengagements Suchpoliciesandproceduresshouldrequirethefirm schiefexecutiveofficerormanagingboardofpartnerstoassumeultimateresponsibilityforthefirm ssystemofqualitycontrol Anypersonorpersonsassignedoperationalresponsibilityforthefirm squalitycontrolsystembythefirm schiefexecutiveofficerormanagingboardofpartnersshouldhavesufficientandappropriateexperienceandability andthenecessaryauthority toassumethatresponsibility EthicalRequirements Thefirmshouldestablishpoliciesandproceduresdesignedtoprovideitwithreasonableassurancethatthefirmanditspersonnelcomplywithrelevantethicalrequirements AcceptanceandContinuanceofClientRelationshipsandSpecificEngagements Thefirmshouldestablishpoliciesandproceduresdesignedtodecidingwhethertoacceptorcontinueaclientrelationship Thesepoliciesandproceduresshouldminimizetheriskofassociatingwithaclientwhosemanagementlacksintegrity Thefirmshouldalsoonlyundertakeengagementsthatcanbecompletedwithprofessionalcompetence Forexample aclientevaluationform dealingwithsuchmattersaspredecessorauditorcommentsandevaluationofmanagement mustbepreparedforeverynewclientbeforeacceptance HumanResources Thefirmshouldestablishpoliciesandproceduresdesignedtoprovideitwithreasonableassurancethatithassufficientpersonnelwiththecapabilities competence andcommitmenttoethicalprinciplesnecessarytoperformitsengagementsinaccordancewithprofessionalstandardsandregulatoryandlegalrequirements andtoenablethefirmorengagementpartnerstoissuereportsthatareappropriateinthecircumstances Suchpoliciesandproceduresaddressthefollowingpersonnelissues suchasrecruitment performanceevaluation capabilities competence careerdevelopment promotion compensation andtheestimationofpersonnelneeds EngagementPerformance Thefirmshouldestablishpoliciesandproceduresdesignedtoprovideitwithreasonableassurancethatengagementsareperformedinaccordancewithprofessionalstandardsandregulatoryandlegalrequirements andthatthefirmortheengagementpartnerissuereportsthatareappropriateinthecircumstances Forexample anengagementqualitycontrolreviewthatprovidesanobjectiveevaluationofthesignificantjudgmentsmadebytheengagementteamandtheconclusionsreachedinformulatingthereportshouldbeperformedforallauditsoffinancialstatementsoflistedentities Monitoring Thefirmshouldestablishpoliciesandproceduresdesignedtoprovideitwithreasonableassurancethatthepoliciesandproceduresrelatingtothesystemofqualitycontrolarerelevant adequate operatingeffectivelyandcompliedwithinpractice Suchpoliciesandproceduresshouldincludeanongoingconsiderationandevaluationofthefirm ssystemofqualitycontrol includingaperiodicinspectionofaselectionofcompletedengagements 2 2 2PeerReview PeerreviewisthereviewbyotherCPAfirmsofaCPAfirm scompliancewithitsqualitycontrolsystem ThepurposeofapeerreviewistodetermineandreportwhethertheCPAfirmbeingreviewedhasdevelopedadequatepoliciesandproceduresforthesixelementsofqualitycontrolandfollowstheminpractice Peerreviewscanbebeneficialtotheprofessionandindividualfirms Byhelpingfirmsmeetsqualitycontrolstandards theprofessiongainsfromimprovedpractitionerperformanceandhigh qualityaudits Afirmhavingapeerreviewcanalsogainifitimprovesthefirm spracticeandtherebyenhancesitsreputationandreducesthelikelihoodoflawsuits 2 3ChinaStandardsonAuditing Review OtherAssurance RelatedServicesandQualityControl 2 3 1ChinaGeneralStandardonAssuranceEngagements2 3 2ReviewEngagements2 3 3QualityControl Glossary codeofethicsforprofessionalaccountants职业会计师道德规范standardsonqualitycontrol质量控制准则standardsonassuranceengagements鉴证业务准则standardsonauditing审计准则standardsonreview审阅准则relatedservices相关服务agreed uponprocedures商定程序compilation代编subjectmatterinformation鉴证对象信息 Glossary assertion basedengagements基于责任方认定的业务directreportingengagements直接报告业务aresponsibleparty责任方intendedusers预期使用者reasonableassurance合理保证limitedassurance有限保证 InChina CICPAsetsprofessionalrequirementsforCPAs andpublishesthestandardsforauditing In2006 CICPAcancelledtheindependentauditingstandardsandissuedtheassurancestandards AlltheCPAsinChinamustobeyassurancestandardswhentheyimplementauditorotherassuranceservices Theassurancestandardsincludegeneralassurancestandardsandassurancestandardsofprofessionalwork andassurancestandardsofprofessionalworkhavethreecomponents andtheyareauditingstandards reviewstandards otherassurancestandards 2 3 1ChinaGeneralStandardonAssuranceEngagements 2 3 1 1DefinitionofanAssuranceEngagement2 3 1 2Assertion basedEngagementsandDirectReportingEngagements2 3 1 3ElementsofanAssuranceEngagement 2 3 1 1DefinitionofanAssuranceEngagement Assuranceengagement meansanengagementinwhichapractitionerexpressesaconclusiononasubjectmatterinformationdesignedtoenhancethedegreeofconfidenceoftheintendedusersotherthantheresponsiblepartyaboutthesubjectmatterinformation Subjectmatterinformation Subjectmatterinformation istheoutcomeoftheevaluationandmeasurementofasubjectmatteragainstcriteria suchastheinformationabouttherecognition measurement presentationanddisclosurerepresentedinthefinancialstatements subjectmatterinformation resultedfromapplyingAccountingStandardsforBusinessEnterprises criteria forrecognition measurement presentationanddisclosure toanentity sfinancialposition financialperformanceandcashflows subjectmatter subjectmatter Asubjectmatterofanassuranceisthetopicaboutwhichtheassuranceisconducted 2 3 1 2Assertion basedEngagementsandDirectReportingEngagements Assuranceengagementscanbedividedintoassertion basedengagementsanddirectreportingengagements assertion basedengagements Inassertion basedengagements theevaluationormeasurementofthesubjectmatterisperformedbytheresponsibleparty andthesubjectmatterinformationisintheformofanassertionbytheresponsiblepartythatismadeavailabletotheintendedusers Forexample inauditoffinancialstatements thefinancialstatements subjectmatterinformation whichresultfromtherecognition measurement presentationanddisclosure evaluationormeasurement bymanagement responsibleparty toanentity sfinancialposition financialperformanceandcashflows subjectmatter areassertionsoftheresponsibleparty Thepractitionerissuesanauditor sreportregardingthefinancialstatementsthatareavailabletotheintendedusers Theseengagementsarecalled assertion basedengagements directreportingengagements Indirectreportingengagements thepractitionereitherdirectlyperformstheevaluationormeasurementofthesubjectmatter orobtainsarepresentationfromtheresponsiblepartythathasperformedtheevaluationormeasurementthatisnotavailabletotheintendedusers Thesubjectmatterinformationisprovidedtotheintendedusersintheassurancereport Forexample inanassuranceengagementregardinginternalcontrol thepractitionermaynotbeabletoobtaintheevaluationreport assertionsoftheresponsibleparty ontheeffectivenessofinternalcontrolfrommanagement responsibleparty orthereportisnotavailabletotheintendedusersalthoughthepractitionerisabletoobtainit Thepractitionerissuesanassurancereportbydirectlyevaluatingtheeffectivenessofinternalcontrol subjectmatter Theinformationabouttheeffectivenessofinternalcontrol subjectmatterinformation isonlyavailabletotheintendedusersintheassurancereport Theseengagementsarecalled directreportingengagements 2 3 1 3ElementsofanAssuranceEngagement athreepartyrelationshipasubjectmattercriteriaevidenceanassurancereport Athreepartyrelationship Assuranceengagementsinvolvethreeseparateparties apractitioner aresponsiblepartyandintendedusers Theresponsiblepartyistheorganizationorperson s who Inadirectreportingengagement isresponsibleforthesubjectmatter orInanassertion basedengagement isresponsibleforthesubjectmatterinformation andmayberesponsibleforthesubjectmatter Theintendedusersaretheorganizationorperson s forwhomthepractitionerpreparestheassurancereport Subjectmatter Thesubjectmatterandsubjectmatterinformationofanassuranceengagementcantakemanyforms suchas Financialperformanceorconditions forexample historicalorprospectivefinancialposition financialperformanceandcashflows forwhichthesubjectmatterinformationwouldbethefinancialstatements Non financialperformanceorconditions forexample performanceofanentity forwhichthesubjectmatterinformationmaybekeyindicatorsofefficiencyoreffectiveness Physicalcharacteristics forexample capacityofafacility forwhichthesubjectmatterinformationmaybespecificationsdocument Systemsandprocesses forexample anentity sinternalcontrolorITsystem forwhichthesubjectmatterinformationmaybeanassertionabouteffectiveness Behavior forexample compliancewithregulation forwhichthesubjectmatterinformationmaybeastatementofcomplianceorastatementofeffectiveness Criteria Criteriaarethebenchmarksusedtoevaluateormeasurethesubjectmatterincluding whererelevant benchmarksforpresentationanddisclosure Criteriacanbeformal forexampleinthepreparationoffinancialstatements thecriteriamaybeAccountingStandardsforBusinessEnterprises andcanbeinformal forexampleentity sinternallydevelopedcodeofconductoranagreedlevelofperformance Evidence Thepractitionershouldplanandperformanassuranceengagementwithanattitudeofprofessionalskepticismandobtainsufficientappropriateevidenceaboutwhetherthesubjectmatterinformationisfreefrommaterialmisstatement AssuranceReport Thepractitionershouldprovideawrittenreportcontainingaconclusionthatconveystheassuranceobtainedaboutthesubjectmatterinformation 2 3 2ReviewEngagements Theobjectiveofareviewoffinancialstatementsistoenableanauditortostatewhether onthebasisofreviewproceduresperformed anythinghascometohis herattentionthatcauseshim hertobelievethatthefinancialstatementsarenotpreparedinaccordancewiththeapplicableaccountingstandards anddonotpresentfairly inallmaterialrespects thefinancialposition financialperformanceandcashflowsoftheentitywhosefinancialstatementsarebeingreviewed theentity Wherereviewsoffinancialstatementsdiffermostfromafinancialstatementauditisinthelimitedproceduresperformed limitedininquiryofmanagementandanalyticalprocedures andthereviewreport Thereviewreportshouldcontainaclearwrittenexpression