审计英语课件第4章完整版本.ppt

Chapter3AuditingObjectivesandAuditProcess 3 1OverallAuditObjectiveandResponsibilities3 2ManagementAssertions3 3SpecificAuditObjectives3 4AuditProcess LearningObjectives Afterstudyingthischapter youshouldbeableto1 Comprehendtheobjectiveofanauditoffinancialstatementsandthedefinitionofmanagementassertions 2 Distinguishmanagement sresponsibilitiesforpreparingfinancialstatementsfromtheauditor sresponsibilitiesforverifyingthosefinancialstatements 3 Explainwhytheauditorisresponsibleforreasonablebutnotabsoluteassurance 4 Rememberthetransaction relatedandbalance relatedauditobjectives 5 Learntheauditprocess Beforebeginningthestudyofhowtoconductanaudit itisnecessarytounderstandtheoverallobjectivesoftheaudit theauditor sresponsibilitiesinconductingtheaudit andthespecificobjectivestheauditortriestoaccomplish Withoutanunderstandingofthesetopics planningandaccumulatingauditevidenceduringtheauditcannotbedoneeffectively 3 1OverallAuditObjectiveandResponsibilities 3 1 1OverallAuditObjective3 1 2Management sResponsibilities3 1 3Auditor sResponsibilities Glossary overallauditobjective总体审计目标management sresponsibilities管理层责任auditor sresponsibilities审计师的责任 3 1 1OverallAuditObjective Theoverallobjectiveoftheauditoffinancialstatementsbytheindependentauditoristheexpressionofanopiniononthefairnesswithwhichtheypresentfairly inallmaterialrespects financialposition resultsofoperations anditscashflowsinconformitywithgenerallyacceptedaccountingprinciples Theoverallobjectiveoftheauditoffinancialstatementsemphasizesissuinganopiniononfinancialstatements Theonlyreasonauditorsaccumulateevidenceistoenablethemtoreachconclusionsaboutwhetherfinancialstatementsarefairlystatedinallmaterialrespectsandissueanappropriateauditreport Theobjectiveofanauditoffinancialstatements Theobjectiveofanauditoffinancialstatementsistoenabletheauditor byconductinganaudit toexpressanopiniononthefollowingaspectsofthefinancialstatements a Whetherthefinancialstatementsarepreparedinaccordancewiththerequirementsoftheapplicableaccountingstandards and b Whetherthefinancialstatementsarepresentedfairly inallmaterialrespects thefinancialposition operatingresultsandcashflowsoftheentity 在执行财务报表审计工作时 注册会计师的总体目标是 一 对财务报表整体是否不存在由于舞弊或错误导致的重大错报获取合理保证 使得注册会计师能够对财务报表是否在所有重大方面按照适用的财务报告编制基础编制发表审计意见 二 按照审计准则的规定 根据审计结果对财务报表出具审计报告 并与管理层和治理层沟通 3 1 2Management sResponsibilities Theresponsibilityforadoptingsoundaccountingpolicies maintainingadequateinternalcontrol andmakingfairrepresentationsinthefinancialstatementsrestswithmanagementratherthanwiththeauditor Becausetheyoperatethebusinessdaily acompany smanagementknowsmoreaboutthecompany stransactionsandrelatedassets liabilities andequitythantheauditordoes Incontrast theauditor sknowledgeofthesemattersandinternalcontrolislimitedtothoseacquiredduringtheaudit Althoughthemanagementhastheresponsibilityforthepreparationofthefinancialstatementsandtheaccompanyingfootnotes itisacceptableforanauditortodraftthefinancialstatementsfortheclientortooffersuggestionsforclarification Intheeventthatmanagementinsistsonfinancialstatementdisclosurethattheauditorfindsunacceptable theauditorcaneitherissueanadverseorqualifiedopinionorwithdrawfromtheengagement 3 1 3Auditor sResponsibilities Anauditorhasaresponsibilitytoplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatement whichcausedbyerrororfraud Duetothenatureoftheauditevidenceandthecharacteristicsoffraud theauditorisabletoobtainreasonable butnotabsolute assurancethatmaterialmisstatementsaredetected Theauditorhasnoresponsibilitytoplanandperformtheaudittoobtainreasonableassurancethosemisstatements whichcausedbyerrorsorfraud thatarenotmaterialtothefinancialstatementsaredetected 与管理层和治理层责任相关的执行审计工作的前提 以下简称执行审计工作的前提 是指管理层和治理层 如适用 认可并理解其应当承担下列责任 这些责任构成注册会计师按照审计准则的规定执行审计工作的基础 一 按照适用的财务报告编制基础编制财务报表 并使其实现公允反映 如适用 二 设计 执行和维护必要的内部控制 以使财务报表不存在由于舞弊或错误导致的重大错报 三 向注册会计师提供必要的工作条件 包括允许注册会计师接触与编制财务报表相关的所有信息 如记录 文件和其他事项 向注册会计师提供审计所需的其他信息 允许注册会计师在获取审计证据时不受限制地接触其认为必要的内部人员和其他相关人员 WhiletheauditorisresponsibleforexpressinganauditopiniononthefinancialstatementsinaccordancewithChinaStandardsonAuditing theresponsibilityforthepreparationofthefinancialstatementsinaccordancewiththerequirementsoftheapplicableaccountingstandardsisthatofmanagementoftheentity withoversightfromthosechargedwithgovernance Theauditofthefinancialstatementsdoesnotrelievemanagementorthosechargedwithgovernanceoftheirresponsibilities 财务报表是由被审计单位管理层在治理层的监督下编制的 审计准则不对管理层或治理层设定责任 也不超越法律法规对管理层或治理层责任作出的规定 管理层和治理层 如适用 认可与财务报表相关的责任 是注册会计师执行审计工作的前提 构成注册会计师按照审计准则的规定执行审计工作的基础 财务报表审计并不减轻管理层或治理层的责任 AnauditorconductinganauditinaccordancewithCSAs ChinaStandardsonAuditing obtainsreasonableassurancethatthefinancialstatementstakenasawholearefreefrommaterialmisstatement Anauditorcannotobtainabsoluteassurancethatthefinancialstatementstakenasawholearefreefrommaterialmisstatementbecausethereareinherentlimitationsinanauditthataffecttheauditor sabilitytodetectmaterialmisstatements Theselimitationsresultfromfactorssuchasthefollowing Theuseoftesting Theinherentlimitationsofinternalcontrol Thefactthatmostauditevidenceispersuasiveratherthanconclusive Theworkundertakenbytheauditortoformanauditopinionispermeatedbyjudgment Therearetransactionsandeventsofspecialnaturethatmayaffectthepersuasivenessofauditevidence Theuseoftesting Mostauditevidencesresultfromtestingasampleofapopulationsuchasaccountsreceivableorinventory Samplinginevitablyincludessomeriskofnotuncoveringamaterialmisstatement Theinherentlimitationsofinternalcontrol Fraudulentlypreparedfinancialstatementsareoftenextremelydifficult ifnotimpossible fortheauditortodetect especiallywhenthereiscollusionamongmanagement Thefactthatmostauditevidenceispersuasiveratherthanconclusive Accountingpresentationscontaincomplexestimates whichinherentlyinvolveuncertaintyandcanbeaffectedbyfutureevents Asaresult theauditorhastorelyonevidencethatispersuasive butnotconvincing Theworkundertakenbytheauditortoformanauditopinionispermeatedbyjudgment Theareastobetested thetype extent andtimingofthosetests andtheevaluationoftestresultsrequiresignificantauditorjudgment Evenwithgoodfaithandintegrity auditorsmaymakemistakesanderrorsinjudgment 审计的固有限制源于财务报告的性质 审计程序的性质和在合理的时间内以合理的成本完成审计的需要 3 2ManagementAssertions 3 2 1DefinitionofManagementAssertions3 2 2CategoriesofManagementAssertions Glossary managementassertions管理层认定assertionsaboutexistenceoroccurrence存在或发生认定assertionsaboutcompleteness完整性认定assertionsaboutvaluationorallocation计价或分摊认定assertionsaboutrightsandobligations权利和义务认定assertionsaboutpresentationanddisclosure表达与披露认定 3 2 1DefinitionofManagementAssertions Assertionsaretheexplicitorimplicitexpressionsmadebymanagementregardingtherecognition measurement presentationanddisclosureofthevariouselementsoffinancialstatements 认定是指管理层在财务报表中作出的明确或隐含的表达 注册会计师将其用于考虑可能发生的不同类型的潜在错报 Representationsbymanagement explicitorotherwise thatareembodiedinthefinancialstatements Managementassertionsaredirectlyrelatedtogenerallyacceptedaccountingprinciples Theseassertionsarepartofthecriteriathatmanagementusestorecordanddiscloseaccountinginformationinfinancialstatements Auditorsmustthereforeunderstandtheassertionstodoadequateaudits 3 2 2CategoriesofManagementAssertions AssertionsaboutExistenceorOccurrenceAssertionsaboutCompletenessAssertionsaboutValuationorAllocationAssertionsaboutRightsandObligationsAssertionsaboutPresentationandDisclosure AssertionsaboutExistenceorOccurrence Assertionsaboutexistencedealwithwhetherassets obligations andequitiesincludedinthebalancesheetactuallyexistedonthebalancesheetdate Assertionsaboutoccurrenceconcernwhetherrecordedtransactionsincludedinthefinancialstatementsactuallyoccurredduringtheaccountingperiod Forexample managementassertsthatmerchandiseinventoryincludedinthebalancesheetexistsandisavailableforsaleatthebalancesheetdate Similarly managementassertsthatrecordedsalestransactionsrepresentexchangesofgoodsorservicesthatactuallytookplace AssertionsaboutCompleteness Thesemanagementassertionsstatethatalltransactionsandaccountsthatshouldbepresentedinthefinancialstatementsareincluded Forexample managementassertsthatallsalesofgoodsandservicesarerecordedandincludedinthefinancialstatements Similarly managementassertsthatnotespayableinthebalancesheetincludeallsuchobligationsoftheentity Thecompletenessassertiondealswithmattersoppositefromthoseoftheexistenceoroccurrenceassertions Thecompletenessassertionisconcernedwiththepossibilityofomittingitemsfromthefinancialstatementsthatshouldhavebeenincluded whereastheexistenceoroccurrenceassertionisconcernedwithinclusionofamountsthatshouldnothavebeenincluded Thus violationsoftheexistenceassertionsrelatetoaccountoverstatements whereasviolationsofthecompletenessassertionsrelatetoaccountunderstatements Therecordingofasalethatdidnottakeplacewouldbeaviolationoftheoccurrenceassertions whereasthefailuretorecordasalethatdidoccurwouldbeaviolationofthecompletenessassertions AssertionsaboutValuationorAllocation Theseassertionsdealwithwhetherasset liability equity revenue andexpenseaccountshavebeenincludedinthefinancialstatementsatappropriateamounts Forexample managementassertsthatassetsareproperlyrecordedathistoricalcostandthatsuchcostissystematicallyallocatedtoappropriateaccountingperiodsthroughdepreciation Similarly managementassertsthataccountsreceivableincludedinthebalancesheetarestatedatnetrealizablevalue AssertionsaboutRightsandObligations Thesemanagementassertionsdealwithwhetherassetsaretherightsforentityandliabilitiesaretheobligationsoftheentityatagivendate Forexample managementassertsthatassetsareownedbythecompanyorthatamountscapitalizedforleasesinthebalancesheetrepresentthecostoftheentity srightstoleasedpropertyandthatthecorrespondingleaseliabilityrepresentsanobligationoftheentity AssertionsaboutPresentationandDisclosure Theseassertionsdealwithwhethercomponentsofthefinancialstatementsareproperlycombinedorseparated described anddisclosed Forexample managementassertsthatobligationsclassifiedaslong termliabilitiesinthebalancesheetwillnotmaturewithin1year Similarly managementassertsthatamountspresentedasextraordinaryitemsintheincomestatementareproperlyclassifiedanddescribed 3 3SpecificAuditObjectives 3 3 1TheUseofAssertionstoObtainAuditEvidence3 3 2Transaction relatedauditobjectives3 3 3Balance relatedauditobjectives3 3 4Presentationanddisclosure relatedauditobjectives Glossary specificauditobjectives具体审计目标transaction relatedauditobjectives与交易相关的审计目标balance relatedauditobjectives与余额相关的审计目标presentationanddisclosure relatedauditobjectives与列报相关的审计目标cutoff截止classification分类 3 3 1TheUseofAssertionstoObtainAuditEvidence Managementisresponsibleforthefairpresentationoffinancialstatementsthatreflectthenatureandoperationsoftheentity Inrepresentingthatthefinancialstatementarepresentedfairly inallmaterialrespects inaccordancewithgenerallyacceptedaccountingprinciples managementimplicitlyorexplicitlymakesassertionsregardingtherecognition measurement presentationanddisclosureofthevariouselementsoffinancialstatementsandrelateddisclosures Theauditorshoulduseassertionsforclassesoftransactions accountbalances andpresentationanddisclosuresinsufficientdetailtoformabasisfortheassessmentofrisksofmaterialmisstatementandthedesignandperformanceoffurtherauditprocedures Theauditorusesassertionsinassessingrisksbyconsideringthedifferenttypesofpotentialmisstatementsthatmayoccur andtherebydesigningauditproceduresthatareresponsivetotheassessedrisks Theauditor sauditobjectivesfollowandarecloselyrelatedtomanagementassertions Thatisnotsurprisingbecausetheauditor sprimaryresponsibilityistodeterminewhethermanagementassertionsaboutfinancialstatementsarejustified Auditorsshouldclassifyspecificauditobjectivesintofollowingthreecategories 3 3 2Transaction relatedauditobjectives Transaction relatedauditobjectivesareintendedtoprovideaframeworktohelptheauditoraccumulatesufficientcompetentevidenceanddecidetheproperevidencetoaccumulateforclassesoftransactionsgiventhecircumstancesofengagement Theobjectivesremainthesamefromaudittoaudit buttheevidencevaries dependingonthecircumstances Assertionsaboutclassesoftransactionsandeventsfortheperiodunderauditusedbytheauditorfallintothefollowingcategories OccurrenceCompletenessAccuracyCutoffClassification Occurrence Transactionsandeventsthathavebeenrecordedhaveoccurredandpertaintotheentity Inclusionofasaleinthesalesjournalwhennosaleoccurredviolatestheoccurrenceobjectives Completeness Alltransactionsandeventsthatshouldhavebeenrecordedhavebeenrecorded Failuretoincludeasaleinthesalesjournalandgeneralledgerswhenasaleoccurredviolatesthecompletenessobjective Theoccurrenceandcompletenessobjectivesemphasizeoppositeauditconcerns occurrencedealswithpotentialoverstatementandcompletenesswithunrecordedtransaction whichisanunderstatement Accuracy Amountsandotherdatarelatingtorecordedtransactionsandeventshavebeenrecordedappropriately Forsalestransactions therewouldbeaviolationoftheaccuracyobjectiveifthequantityofgoodsshippedwasdifferentfromthequantitybilled thewrongsellingpricewasusedforbilling extensionoraddingerrorsoccurredinbilled orthewrongamountwasincludedinthesalesjournal Cutoff Transactionsandeventshavebeenrecordedinthecorrectaccountingperiod Acutofferroroccursiftransactionsarenotrecordedonthedatesthetransactionstookplace Asalestransaction forexample shouldberecordedonthedateofshipment Classification Transactionsandeventshavebeenrecordedintheproperaccounts Examplesofmisclassificationsforsalesareincludingcashsalesascreditsales andrecordingasaleofoperatingfixedassetsasrevenue 3 3 3Balance relatedauditobjectives Balance relatedauditobjectivesfollowfrommanagementassertionsandtheyprovideaframeworktohelptheauditoraccumulatesufficientcompetentevidence Balance relatedauditobjectivesaredifferentfromthetransaction relatedauditobjectives Asthetermsimply balance relatedauditobjectivesareappliedtoaccountbalances whereastransaction relatedauditobjectivesareappliedtoclassoftransactionssuchassalestransactionsandcashdisbursementstransactions Assertionsaboutaccountbalancesfortheperiodunderauditusedbytheauditorfallintothefollowingcategories ExistenceRightsandObligationsCompletenessValuationandAllocation Existence Assets liabilities andequityintereststhathavebeenrecordedexist Forexample inclusionofanaccountreceivablefromacustomerintheaccountsreceivabletrialbalancewhenthereisnoreceivablefromthatcustomerviolatestheexistenceobjective RightsandObligations Theentityholdsorcontrolstherightstoassetsthathavebeenrecorded andliabilitiesthathavebeenrecordedaretheobligationsoftheentity Inadditiontoexisting mostassetsmustbeownedbeforeitisacceptabletoincludetheminthefinancialstatements Similarly liabilitiesmustbelongtotheentity Rightsarealwaysassociatedwithassetsandobligationswithliabilities Completeness Allassets liabilitiesandequityintereststhatshouldhavebeenrecordedhavebeenrecorded Failuretoincludeanaccountreceivablefromacustomerintheaccountsreceivabletrialbalancewhenareceivableexistsviolatesthecompletenessobjective ValuationandAllocation Assets liabilities andequityinterestsareincludedinthefinancialstatementsatappropriateamountsandanyresultingvaluationorallocationadjustmentsareappropriatelyrecorded Thisobjectivereferstoamountsbeingincludedatthecorrectarithmeticamount Aninventoryitemonaclient sinventorylistingcouldbewrongbecausethenumberofunitsofinventoryonhandwasmisstated theunitpricewaswrong orthetotalwasincorrectlyextended Thisobjectivealsoconcernswhetheranaccountbalancehasbeenreducedfordeclinesfromhistoricalcosttonetrealizablevalue 3 3 4Presentationanddisclosure relatedauditobjectives Infulfillingthepresentationanddisclosureobjectives theauditorteststomakecertainthatallbalancesheetandincomestatementaccountsandrelatedinformationarecorrectlysetforthinthefinancialstatementsandproperlydescribedinthebodyandfootnotesofthestatements Assertionsaboutpresentationanddisclosurefortheperiodunderauditusedbytheauditorfallintothefollowingcategories OccurrenceandRightsandObligationsCompletenessClassificationandUnderstandabilityAccuracyandValuation OccurrenceandRightsandObligations Disclosedevents transactions andothermattershaveoccurredandpertaintotheentity Includingnonoccurrencetransactionsandevents andtransactionsandeventsirrelevanttoclientinthefinancialstatementsviolatesthisobjective Completeness Alldisclosuresthatshouldhavebeenincludedinthefinancialstatementshavebeenincluded Failuretoincludeaneventwhichshouldbedisclosedinthefinancialstatementsviolatesthecompletenessobjective ClassificationandUnderstandability Financialinformationisappropriatelypresentedanddescribed anddisclosuresareclearlyexpressed Forexample ifalong termnotereceivableisincludedonanaccountsreceivablelisting thereisaviolationoftheclassificationobjective Ifthelong termnotereceivableiscorrectlyclassifiedbutcombinedwithaccountsreceivableonthefinancialstatements thereisaviolationoftheunderstandabilityobjective AccuracyandValuation Financialandotherinformationaredisclosedfairlyandatappropriateamounts Forexample iftherearenoproperdescriptionsaboutaccountingtreatmentofinventorycostinthefinancialstatementsviolatestheaccuracyandvaluationobjective 3 4AuditProcess 3 4 1PlanandDesignonAuditApproach3 4 2PerformTestsofcontrolsandSubstantiveTestsofTransactions3 4 3PerformAnalyticalProceduresandTestsofDetailsofBalances3 4 4CompletetheAuditandIssueanAuditReport Glossary auditprocess审计过程testsofcontrols控制测试substantivetestsoftransactions交易的实质性测试analyticalprocedures分析性程序testsofdetailsofbalances余额的细节测试 Theauditormustobtainsufficientcompetentauditevidencetosupportallmanagementassertionsinthefinancialstatements Thisisdonebyaccumulatingevidenceinsupportofsomeappropriatecombinationoftransaction relatedauditobjectives balance relatedauditobjectivesandpresentation relatedauditobjectives Theauditorplanstheappropriatecombinationofauditobjectivesandtheevidencethatmustbeaccumulatedtomeetthembyfollowinganauditprocess Anauditprocessisawell definedmethodologyfororganizinganaudittoensurethattheevidencegatheredisbothsufficientandcompetentandthatallappropriateauditobjectivesarebothspecificandmet 3 4 1PlanandDesignonAuditApproach Concernforsufficientcompetente