审计学一种整合的方法chapter6课件

AuditResponsibilitiesandObjectives,Chapter6,welcome,1,PPT学习交流,ONE:OBJECTIVEOFCONDUCTINGANAUDITOFFINANCIALSTATEMENTSTWO:MANAGEMENTSRESPONSIBILITIESTHREE:AUDITORSRESPONSIBILITIESFOUR:FINANCIALSTATEMENTCYCLESFIVE:SETTINGAUDITOBJECTIVES,2,PPT学习交流,LearningObjective1,Explaintheobjectiveofconductinganauditoffinancialstatementsandanauditofinternalcontrols.,3,PPT学习交流,ObjectiveofConductinganAuditofFinancialStatements,Thepurposeofanauditistoprovidefinancialstatementuserswithanopinionbytheauditoronwhetherthefinancialstatementsarepresentedfairly,inallmaterialrespects,inaccordancewiththeapplicablefinancialaccountingframework.,4,PPT学习交流,Auditorsaccumulateevidenceinordertoreachconclusionsaboutwhetherthefinancialstatementsarefairlystatedandtodeterminetheeffectivenessofinternalcontrol,afterwhichtheyissuetheappropriateauditreport.,5,PPT学习交流,Iftheauditorbelievesthatthestatementsarenotfairlypresentedorisunabletoreachaconclusionbecauseofinsufficientevidence,theauditorhastheresponsibilityresponsibilityofnotifyingusersthroughtheauditorsreport.,6,PPT学习交流,StepstoDevelopAuditObjectives,1.Understandobjectivesandresponsibilitiesfortheaudit.,2.Dividefinancialstatementsintocycles.,3.Knowmanagementassertionsaboutaccounts.,7,PPT学习交流,StepstoDevelopAuditObjectives,4.Knowgeneralauditobjectivesforclassesoftransactionsandaccounts.,5.Knowspecificauditobjectivesforclassesoftransactionsandaccounts.,8,PPT学习交流,ONE:OBJECTIVEOFCONDUCTINGANAUDITOFFINANCIALSTATEMENTSTWO:MANAGEMENTSRESPONSIBILITIESTHREE:AUDITORSRESPONSIBILITIESFOUR:FINANCIALSTATEMENTCYCLESFIVE:SETTINGAUDITOBJECTIVES,9,PPT学习交流,LearningObjective2,Distinguishmanagementsresponsibilityforthefinancialstatementsandinternalcontrolfromtheauditorsresponsibilityforverifyingthefinancialstatementsandeffectivenessofinternalcontrol.,10,PPT学习交流,Theresponsibilityforadoptingsoundaccountingpolicies,maintainingadequateinternalcontrol,andmakingfairrepresentationsinthefinancialstatementsrestswithmanagementratherthanwiththeauditor.,11,PPT学习交流,Managementsresponsibilityfortheintegrityandfairnessoftherepresentations(assertions)inthefinancialstatementscarrieswithittheprivilegeofdeterminingwhichpresentationsanddisclosuresitconsidersnecessary.Ifmanagementinsistsonfinancialstatementdisclosurethattheauditorfindsunacceptable,theauditorcaneitherissueanadverseorqualifiedopinionorwithdrawfromtheengagement.,12,PPT学习交流,ManagementsResponsibilities,TheSarbanesOxleyActrequiresthechiefexecutiveofficer(CEO)andthechieffinancialofficer(CFO)ofpubliccompaniestocertifythequarterlyandannualfinancialstatementssubmittedtotheSEC.,13,PPT学习交流,ONE:OBJECTIVEOFCONDUCTINGANAUDITOFFINANCIALSTATEMENTSTWO:MANAGEMENTSRESPONSIBILITIESTHREE:AUDITORSRESPONSIBILITIESFOUR:FINANCIALSTATEMENTCYCLESFIVE:SETTINGAUDITOBJECTIVES,14,PPT学习交流,LearningObjective3,Explaintheauditorsresponsibilityfordiscoveringmaterialmisstatements.,15,PPT学习交流,Whentheauditoralsoreportsontheeffectivenessofinternalcontroloverfinancialreporting,theauditorisalsoresponsibleforidentifyingmaterialweaknessesininternalcontroloverfinancialreporting.,16,PPT学习交流,AuditorsResponsibilities,Materialversusimmaterialmisstatements,Reasonableassurance,Errorsversusfraud,Professionalskepticism,Fraudresultingfromfraudulentfinancialreportingversusmisappropriationofassets,17,PPT学习交流,Misstatementsareusuallyconsideredmaterialifthecombineduncorrectederrorsandfraudinthefinancialstatementswouldlikelyhavechangedorinfluencedthedecisionsofareasonablepersonusingthestatements.,18,PPT学习交流,Assuranceisameasureofthelevelofcertaintythattheauditorhasobtainedatthecompletionoftheaudit.,reasonableassuranceisahigh,butnotabsolute,levelofassurancethatthefinancialstatementsarefreeofmaterialmisstatements.,19,PPT学习交流,Auditorsresponsibleforreasonableassurance,butnotabsoluteassurance,Mostauditevidenceresultsfromtestingasampleofapopulationsuchasaccountsreceivableorinventory.AccountingpresentationscontaincomplexestimatesFraudulentlypreparedfinancialstatementsareoftenextremelydifficult,20,PPT学习交流,Errorsversusfraud,Anerrorisanunintentionalmisstatementofthefinancialstatements,whereasfraudisintentional.,21,PPT学习交流,ProfessionalSkepticism,Theauditmustbeplannedandperformedwithanattitudeofprofessionalskepticisminallaspectsoftheengagement.Professionalskepticismisanattitudethatincludesaquestioningmindandacriticalassessmentofauditevidence.,22,PPT学习交流,FraudResultingfromFraudulentFinancialReportingVersusMisappropriationofAssets,Fraudulentfinancialreportingharmsusersbyprovidingthemincorrectfinancialstatementinformationfortheirdecisionmaking.Whenassetsaremisappropriated,stockholders,creditors,andothersareharmedbecauseassetsarenolongeravailabletotheirrightfulowners.,fraudulentfinancialreportingiscommittedbymanagement,sometimeswithouttheknowledgeofemployees.Managementisinapositiontomakeaccountingandreportingdecisionswithoutemployeesknowledge.,23,PPT学习交流,Thetheftofassetsandmisstatements,Assetsweretakenandthetheftwascoveredbymisstatingassets.Assetsweretakenandthetheftwascoveredbyunderstatingrevenuesoroverstatingexpenses.Assetsweretaken,butthemisappropriationwasdiscovered.,24,PPT学习交流,AuditorsResponsibilitiesforDiscoveringIllegalActs,Direct-effectillegalacts,Indirect-effectillegalacts,Evidenceaccumulationwhenthereisnoreasontobelieveindirect-effectillegalactexists,25,PPT学习交流,AuditorsResponsibilitiesforDiscoveringIllegalActs,Evidenceaccumulationandotheractionswhenthereisreasontobelievedirect-orindirect-effectillegalactsmayexist,Actionswhentheauditorknowsofanillegalact,26,PPT学习交流,Thefirstcourseofactionwhenanillegalacthasbeenidentifiedistoconsidertheeffectsonthefinancialstatements,includingtheadequacyofdisclosures.,Iftheauditorconcludesthatthedisclosuresrelativetoanillegalactareinadequate,theauditorshouldmodifytheauditreportaccordingly.,27,PPT学习交流,TheauditorshouldalsoconsidertheeffectofsuchillegalactsontheCPAfirmsrelationshipwithmanagement.,Theauditorshouldcommunicatewiththeauditcommitteeorothersofequivalentauthoritytomakesurethattheyknowoftheillegalact.,28,PPT学习交流,ONE:OBJECTIVEOFCONDUCTINGANAUDITOFFINANCIALSTATEMENTSTWO:MANAGEMENTSRESPONSIBILITIESTHREE:AUDITORSRESPONSIBILITIESFOUR:FINANCIALSTATEMENTCYCLESFIVE:SETTINGAUDITOBJECTIVES,29,PPT学习交流,LearningObjective4,Classifytransactionsandaccountbalancesintofinancialstatementcyclesandidentifybenefitsofacycleapproachtosegmentingtheaudit.,30,PPT学习交流,FinancialStatementsCycles,Auditsareperformedbydividingthefinancialstatementsintosmallersegmentsorcomponents.,Thedivisionmakestheauditmoremanageableandaidsintheassignmentoftaskstodifferentmembersoftheauditteam.,31,PPT学习交流,Aftertheauditofeachsegmentiscompleted,includinginterrelationshipswithothersegments,theresultsarecombined.Aconclusioncanthenbereachedaboutthefinancialstatementstakenasawhole.,32,PPT学习交流,CycleApproachtoSegmentinganAudit,Cycleapproachamethodofdividinganauditbykeepingcloselyrelatedtypesoftransactionsandaccountbalancesinthesamesegment,Totheextentthatitispractical,thecycleapproachcombinestransactionsrecordedindifferentjournalswiththegeneralledgerbalancesthatresultfromthosetransactions.,33,PPT学习交流,TransactionFlowExample,Ledgers,TrialBalance,andFinancialStatements,Generalledgerandsubsidiaryrecords,Generalledgertrialbalance,Financialstatements,Acquisitionofgoodsandservices,Sales,Cashreceipts,Transactions,Cashreceiptsjournal,Salesjournal,Acquisitionsjournal,Journals,34,PPT学习交流,TransactionFlowExample,Allocationandadjustments,Cashdisbursements,Payrollservicesanddisbursements,Ledgers,TrialBalance,andFinancialStatements,Generalledgerandsubsidiaryrecords,Generalledgertrialbalance,Financialstatements,Transactions,Payrolljournal,Cashdisbursementsjournal,Generaljournal,Journals,35,PPT学习交流,Atrialbalanceisusedtopreparefinancialstatementsandisaprimaryfocusofeveryaudit.,36,PPT学习交流,AllgeneralledgeraccountsandjournalsforHillsburgHardwareCo.areincludedatleastonce.Somejournalsandgeneralledgeraccountsareincludedinmorethanonecycle.Thesalesandcollectioncycleisthefirstcyclelistedandisaprimaryfocusonmostaudits.Thecapitalacquisitionandrepaymentcycleiscloselyrelatedtotheacquisitionandpaymentcycle.Theinventoryandwarehousingcycleiscloselyrelatedtoallothercycles,especiallyforamanufacturingcompany.,37,PPT学习交流,RelationshipsAmongTransactionCycles,Generalcash,Capitalacquisitionandrepaymentcycle,Salesandcollectioncycle,Acquisitionandpaymentcycle,Payrollandpersonnelcycle,Inventoryandwarehousingcycle,38,PPT学习交流,Transactioncyclesareanimportantwaytoorganizeaudits.Forthemostpart,auditorstreateachcycleseparatelyduringtheaudit.Althoughauditorsneedtoconsidertheinterrelationshipsbetweencycles,theytypicallytreatcyclesindependentlytotheextentpracticaltomanagecomplexauditseffectively.,39,PPT学习交流,ONE:OBJECTIVEOFCONDUCTINGANAUDITOFFINANCIALSTATEMENTSTWO:MANAGEMENTSRESPONSIBILITIESTHREE:AUDITORSRESPONSIBILITIESFOUR:FINANCIALSTATEMENTCYCLESFIVE:SETTINGAUDITOBJECTIVES,40,PPT学习交流,LearningObjective5,Describewhytheaudito