Overall Audit Plan and Audit Program(英文版)(ppt 37页)

1、10 - 12003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyOverall Audit Planand Audit ProgramChapter 1010 - 22003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyLearning Objective 1Use the five types of audit teststo determine whe

2、ther financialstatements are fairly stated.10 - 32003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyTypes of TestsProcedures to obtain anunderstanding of internal controlTests of controlSubstantive tests of transactionsAnalytical proceduresTests of details of bala

3、nces10 - 42003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyTypes of Audit Tests andthe Audit Risk ModelAuditRiskModelProceduresto obtain anunderstanding ofinternal controlTests ofcontrols(TOC)Substantivetests oftransactions(STOT)Typesof AuditTests+ AARIR CR= PDR

4、10 - 52003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyTypes of Audit Tests andthe Audit Risk ModelAnalyticalprocedures(AP)Tests ofdetails ofbalances(TDP)Sufficientcompetentevidenceper GASS+= AARIR CR= PDRAuditRiskModelTypesof AuditTests10 - 62003 Prentice Hall

5、Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyRole of all Audit Tests in the Sales and Collection CycleSalesAccountsReceivableCash inBankSalestransactionsCash receiptstransactionsEndingbalanceEndingbalanceTOC + STOT + AP + TDP= Sufficient competent evidence per GAASAudited byTO

6、C, STOT, and APAudited by AP and TDPAudited byTOC, STOT, and AP10 - 72003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyLearning Objective 2Select the appropriatetypes of audit tests.10 - 82003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/E

7、lder/BeasleyRelationship BetweenTypes of Tests and EvidenceType of TestProcedures for internal controlTests of controlsSubstantive tests of transactionsAnalytical proceduresTests of details of balancesPhysicalExaminationConfirmationDocumentationObservation Type ofEvidence10 - 92003 Prentice Hall Bus

8、iness Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyRelationship BetweenTypes of Tests and EvidenceType of TestProcedures for internal controlTests of controlsSubstantive tests of transactionsAnalytical proceduresTests of details of balancesInquiries ofthe clientReperformanceAnalyticper

9、formance Type ofEvidence10 - 102003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyAudit Assurance at Different Levels of Internal Control EffectivenessAcceptableassuranceNoassuranceINTERNAL CONTROL EFFECTIVENESSWeak controlStrong controlReliance on controls: C3 No

10、ne, C2 Some, C1 MaximumAudit assurancefrom control riskassessment andtests of controlAuditassurancefromsubstantivetestsACBC3C2C1AUDIT ASSURANCE10 - 112003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyLearning Objective 3Understand how informationtechnology affect

11、s audit testing.10 - 122003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyImpact of Information Technology on Audit TestingSAS 80 (AU 326) and SAS 94 (AU 319)provide guidance for auditors of entitiesthat transmit, process, maintain, or accesssignificant informatio

12、n electronically.10 - 132003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyImpact of Information Technology on Audit TestingComputer assisted audit techniques may beused to test automated controls or data.Reports produced by IT may be used to testthe effectiveness

13、 of IT general controls.Program changecontrolsAccesscontrols10 - 142003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyLearning Objective 4Understand the concept of evidencemix and how it should be variedin different circumstances.10 - 152003 Prentice Hall Business

14、 Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyVariations in Evidence MixProcedures to Obtainan Understandingof Internal ControlTestsofControlsAudit 1EEAudit 2MMAudit 3MNAudit 4MMAmount of testing: Extensive, Medium, Small, None10 - 162003 Prentice Hall Business Publishing, Essentials o

15、f Auditing 1/e, Arens/Elder/BeasleyVariations in Evidence MixSubstantiveTests ofTransactionsAnalyticalProceduresTests ofDetails ofBalancesAudit 1S ESAudit 2M EMAudit 3E MEAudit 4E EEAmount of testing: Extensive, Medium, Small, None10 - 172003 Prentice Hall Business Publishing, Essentials of Auditing

16、 1/e, Arens/Elder/BeasleyLearning Objective 5Design an audit program.10 - 182003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyAudit ProgramPart 1:Tests of controls and substantivetests of transactionsPart 2:Analytical proceduresPart 3:Tests of details and balance

17、s10 - 192003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyAudit Procedures1. Apply the transaction-related audit objectivesto the class of transactions being tested.2. Identify key controls that should reducecontrol risk for each audit objective.3. Develop approp

18、riate tests of controls.4. Design substantive tests of transactions.10 - 202003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyFour-Step Approach to Designing Control and Substantive TestsApply transaction-related audit objectivesto a class of transactions(Step 1).

19、Identify key controlsand make an assessmentof control risk(Step 2).Design tests ofcontrols (Step 3).Design substantive testsof transactions (Step 4).Audit procedures Sample size Items to selectTiming10 - 212003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyMethodo

20、logy for Designing Tests ofBalances Accounts ReceivableIdentify client business risksaffecting accounts receivable.Set tolerable misstatementand assess inherent riskfor accounts receivable.Assess control risk for salesand collection cycle.10 - 222003 Prentice Hall Business Publishing, Essentials of

21、Auditing 1/e, Arens/Elder/BeasleyMethodology for Designing Tests ofBalances Accounts ReceivableDesign and perform tests ofcontrols and substantive testsof transactions for sales andcollection cycle.Design and perform analyticalprocedures for accountsreceivable balance.10 - 232003 Prentice Hall Busin

22、ess Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyMethodology for Designing Tests ofBalances Accounts ReceivableDesign tests of details ofaccounts receivable balanceto satisfy balance-relatedaudit objectives.Audit proceduresSample sizeItems to selectTiming10 - 242003 Prentice Hall Busin

23、ess Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyApproach to Designing Tests of Details of BalancesApply transaction-related auditobjectives to a classof transactions.Identify key controlsand make a preliminaryassessmentof control risk.Design tests ofcontrols.Design substantive testsof

24、 transactions.Audit procedures Sample size Items to selectTiming10 - 252003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyApproach to Designing Tests of Details of BalancesDesign testsof controls.Designsubstantivetests oftransactions.Apply balance-related auditobj

25、ectives to an account balance.Audit proceduresSample sizeItems to selectTimingDesign tests of details of balances.10 - 262003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyApproach to Designing Tests of Details of BalancesApply balance-related auditobjectives to a

26、naccount balance.Design testsof details ofbalances.Decide tolerablemisstatement.Make preliminaryjudgment aboutmateriality.Design analyticalprocedures.Decide acceptableaudit risk.Assess inherent risk.Assess clientbusiness risk.10 - 272003 Prentice Hall Business Publishing, Essentials of Auditing 1/e,

27、 Arens/Elder/BeasleyLearning Objective 6Compare and contrasttransaction-related auditobjectives and balance-related audit objectives.10 - 282003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyRelationship of Transaction- toBalance-Related Audit ObjectivesTransactio

28、n-Related Balance-RelatedNature ofAudit Objective Audit Objective RelationshipExistenceExistence orDirectcompletenessCompletenessCompleteness orDirectexistenceAccuracyAccuracyDirect10 - 292003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleyRelationship of Transacti

29、on- toBalance-Related Audit ObjectivesTransaction-Related Balance-RelatedNature ofAudit Objective Audit Objective RelationshipClassificationClassificationDirectTimingCutoffDirectPosting andDetail tie-inDirectsummarization10 - 302003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Aren

30、s/Elder/BeasleyRelationship of Transaction- toBalance-Related Audit ObjectivesTransaction-Related Balance-RelatedNature ofAudit Objective Audit Objective RelationshipRealizable valueNoneRights andNoneobligationsPresentation andNonedisclosure10 - 312003 Prentice Hall Business Publishing, Essentials o

31、f Auditing 1/e, Arens/Elder/BeasleyLearning Objective 7Integrate the four phasesof the audit process.10 - 322003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleySummary of theAudit ProcessPhase IPlan and designan audit approach.Phase IIPerform tests ofcontrols andsu

32、bstantive testsof transactions.Phase IIIPerform analyticalprocedures andtests of detailsof balances.Phase IVComplete theaudit and issuean audit report.10 - 332003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/BeasleySummary of the Audit ProcessPhase IAccept client and perform initial planning.Understand the clients business and industry.Assess clients business risk.Perform preliminary analytical procedures.Set materiality and assess acceptableaudit risk and i