审计学一种整合方法-第12版-英文版Chapter06ppt课件.ppt

AuditResponsibilitiesandObjectives Chapter6 LearningObjective1 Explaintheobjectiveofconductinganauditoffinancialstatementsandanauditofinternalcontrols ObjectiveofConductinganAuditofFinancialStatements Theobjectiveoftheordinaryauditoffinancialstatementsistheexpressionofanopinionofthefairnesswithwhichtheypresentfairly inallrespects financialposition resultofoperations anditscashflowsinconformitywithGAAP StepstoDevelopAuditObjectives 1 Understandobjectivesandresponsibilitiesfortheaudit 2 Dividefinancialstatementsintocycles 3 Knowmanagementassertionsaboutaccounts StepstoDevelopAuditObjectives 4 Knowgeneralauditobjectivesforclassesoftransactionsandaccounts 5 Knowspecificauditobjectivesforclassesoftransactionsandaccounts LearningObjective2 Distinguishmanagement sresponsibilityforthefinancialstatementsandinternalcontrolfromtheauditor sresponsibilityforverifyingthefinancialstatementsandeffectivenessofinternalcontrol Management sResponsibilities Managementisresponsibleforthefinancialstatementsandforinternalcontrol TheSarbanes OxleyActincreasesmanagement sresponsibilityforthefinancialstatements ItrequirestheCEOandtheCFOofpubliccompaniestocertifythequarterlyandannualfinancialstatementssubmittedtotheSEC Management sResponsibilities TheSarbanes OxleyActprovidesforcriminalpenaltiesforanyonewhoknowinglyfalselycertifiesthestatements LearningObjective3 Explaintheauditor sresponsibilityfordiscoveringmaterialmisstatements Auditor sResponsibilities Materialversusimmaterialmisstatements Reasonableassurance Errorsversusfraud Professionalskepticism Fraudresultingfromfraudulentfinancialreportingversusmisappropriationofassets Auditor sResponsibilitiesforDiscoveringIllegalActs Direct effectillegalacts Indirect effectillegalacts Evidenceaccumulationwhenthereisnoreasontobelieveindirect effectillegalactexists Auditor sResponsibilitiesforDiscoveringIllegalActs Evidenceaccumulationandotheractionswhenthereisreasontobelievedirect orindirect effectillegalactsmayexist Actionswhentheauditorknowsofanillegalact LearningObjective4 Classifytransactionsandaccountbalancesintofinancialstatementcyclesandidentifybenefitsofacycleapproachtosegmentingtheaudit FinancialStatementsCycles Auditsareperformedbydividingthefinancialstatementsintosmallersegmentsorcomponents TransactionFlowExample Ledgers TrialBalance andFinancialStatements Generalledgerandsubsidiaryrecords Generalledgertrialbalance Financialstatements Acquisitionofgoodsandservices Sales Cashreceipts Transactions Cashreceiptsjournal Salesjournal Acquisitionsjournal Journals TransactionFlowExample Allocationandadjustments Cashdisbursements Payrollservicesanddisbursements Ledgers TrialBalance andFinancialStatements Generalledgerandsubsidiaryrecords Generalledgertrialbalance Financialstatements Transactions Payrolljournal Cashdisbursementsjournal Generaljournal Journals RelationshipsAmongTransactionCycles Generalcash Capitalacquisitionandrepaymentcycle Salesandcollectioncycle Acquisitionandpaymentcycle Payrollandpersonnelcycle Inventoryandwarehousingcycle LearningObjective5 Describewhytheauditorobtainsacombinationofassurancebyauditingclassesoftransactionsandendingbalancesinaccounts includingpresentationanddisclosure BalanceandTransactionsAffectingBalancesExample Beginningbalance Sales 17 521 144 328 137 087 Cashreceipts 1 242 Salesreturnsandallowances Charge offofuncollectibleaccounts Endingbalance 20 197 3 323 AccountsReceivable inthousands LearningObjective6 Distinguishamongthethreecategoriesofmanagementassertionsaboutfinancialinformation ManagementAssertions Assertionsaboutclassesoftransactionsandeventsfortheperiodunderaudit 2 Assertionsaboutaccountbalancesaperiodend 3 Assertionsaboutpresentationanddisclosure ManagementAssertionsforEachCategoryofAssertions AssertionsAboutClassesofTransactionsandEvents AssertionsAboutAccountBalances AssertionsAboutPresentationandDisclosure Occurrence Existence Occurrenceandrightsandobligations Completeness Completeness Completeness Accuracy Valuationandallocation Accuracyandvaluation Classification Classificationandunderstandability Cutoff Rightsandobligations LearningObjective7 Linkthesixgeneraltransaction relatedauditobjectivestomanagementassertionsforclassesoftransaction Occurrence Recordedtransactionsexist Completeness Existingtransactionsarerecorded Accuracy Recordedtransactionsarestatedatthecorrectamounts GeneralTransactions relatedAuditObjectives Classification Transactionsareproperlyclassified Timing Transactionsarerecordedonthecorrectdates Postingandsummarization Transactionsareincludedinthemasterfilesandarecorrectlysummarized GeneralTransactions relatedAuditObjectives ManagementAssertionsandTransaction relatedAuditObjectives ManagementAssertionsAboutClassesofTransactionsandEvents GeneralTransaction relatedAuditObjectives SpecificSalesTransaction relatedAuditObjectives Occurrence Occurrence Recordedsalesareforshipmentsmadetononfictitiouscustomers Completeness Completeness Existingsalestransactionsarerecorded Accuracy Accuracy Recordedsalesarefortheamountofgoodsshippedandarecorrectlybilledandrecorded HillsburgHardwareCompany AsAppliedtoSalesTransactions ManagementAssertionsandTransaction relatedAuditObjectives Accuracy Postingandsummarization Salestransactionsareproperlyincludedinthemasterarecorrectlysummarized Classification Classification Salestransactionsareproperlyclassified Cutoff Timing Salestransactionsarerecordedonthecorrectdates ManagementAssertionsAboutClassesofTransactionsandEvents GeneralTransaction relatedAuditObjectives SpecificSalesTransaction relatedAuditObjectives HillsburgHardwareCompany AsAppliedtoSalesTransactions LearningObjective8 Linktheeightgeneralbalance relatedauditobjectivestomanagementassertionsforaccountbalances Existence Amountsincludedexist Completeness Existingamountsareincluded Accuracy Amountsincludedarestatedatthecorrectamounts GeneralBalance relatedAuditObjectives Classification Amountsareproperlyclassified Cutoff Transactionsarerecordedintheproperperiod Detailtie in Accountbalancesagreewithmaster andwiththegeneralledger GeneralBalance relatedAuditObjectives Realizablevalue Assetsareincludedatestimatedrealizablevalue Rightsandobligations Assetsmustbeowned GeneralBalance relatedAuditObjectives ManagementAssertionsandTransaction relatedAuditObjectives ManagementAssertionsAboutAccountBalances GeneralBalance relatedAuditObjectives SpecificBalance relatedAuditObjectivesAppliedtoInventory Existence Existence Allrecordedinventoryexistsatthebalancesheetdate Completeness Completeness Allexistinginventoryhasbeencountedandincludedintheinventorysummary HillsburgHardwareCompany AsAppliedtoInventory ManagementAssertionsandTransaction relatedAuditObjectives ManagementAssertionsAboutAccountBalances GeneralBalance relatedAuditObjectives Valuationandallocation Accuracy Inventoryquantitiesontheclient sperpetualrecordsagreewithitemsphysicallyonhandPricesusedtovalueinventoriesaremateriallycorrectExtensionsofpricetimesquantityarecorrectanddetailsarecorrectlyadded HillsburgHardwareCompany AsAppliedtoInventory SpecificBalance relatedAuditObjectivesAppliedtoInventory ManagementAssertionsandTransaction relatedAuditObjectives ManagementAssertionsAboutAccountBalances GeneralBalance relatedAuditObjectives Valuationandallocation ClassificationCutoff Inventoryitemsareproperlyclassifiedastorawmaterials workinprocess andfinishedgoodsPurchasecutoffatyearendisproperSalescutoffatyearendisproper HillsburgHardwareCompany AsAppliedtoInventory SpecificBalance relatedAuditObjectivesAppliedtoInventory ManagementAssertionsandTransaction relatedAuditObjectives ManagementAssertionsAboutAccountBalances GeneralBalance relatedAuditObjectives Valuationandallocation Detailtie inRealizablevalue TotalofinventoryitemsagreeswithgeneralledgerInventorieshavebeenwrittendownwherenetrealizablevalueisimpaired HillsburgHardwareCompany AsAppliedtoInventory SpecificBalance relatedAuditObjectivesAppliedtoInventory Rightsandobligations Rightsandobligations ThecompanyhastitletoallinventoryitemslistedInventoriesarenotpledgedascollateral LearningObjective9 Linkthefourpresentationanddisclosure relatedauditobjectivestomanagementassertionsforpresentationanddisclosure ManagementAssertionsandPresentationandDisclosure relatedAuditObjectives HillsburgHardwareCompany AsAppliedtoNotesPayable ManagementAssertionsAboutPresentationandDisclosure SpecificPresentationandDisclosure relatedAuditObjectivesAppliedtoNotesPayable Occurrenceandrightsandobligations Occurrenceandrightsandobligations Notespayableasdescribedinthefootnotesexistandareobligationsofthecompany Completeness Completeness Allrequireddisclosuresrelatedtonotespayableareincludedinthefinancialstatementfootnotes GeneralPresentation andDisclosure relatedAuditObjectives ManagementAssertionsandPresentationandDisclosure relatedAuditObjectives HillsburgHardwareCompany AsAppliedtoNotesPayable ManagementAssertionsAboutPresentationandDisclosure SpecificPres