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Chapter9InternalcontrolThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGInternalcontrolInternalcontroldescribestheprocessdesigned,implementedandmaintainedbythosechargedwith ernance,managementand neltoprovidethemwithreasonableassurancethatanentitywillachieveitsobjectiveswithregardtocompliancewithapplicablelawsand

Relatetofinancialreportingandsorelevanttotheauditor’sriskThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicence内内部控制的定内部控制是指，受企业董事会、管理者和其他员工的影响，旨在为达到企业如下目标而提供合理保证的一种过程。财务数据的可靠运营效率和效对的遵Copyright©2006DeloitteToucheTohmatsu.All InternalControlISAISA315identifies5elementsofinternal

MonitoringofThecontrol

Theentity’s

ThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNING保证信有效保证信有效地沟通的流企业内部控制的道德意识，是“来 持持续信息及沟控制活风险评控制环企业绩效的因素的确保风险管理活动被及时执行的政策和流程的充分性，执行的Copyright©2006Copyright©2006DeloitteToucheTohmatsu.All.COSO是一个内部控制的标准框架。它是由会计师、审计、内部审计师等5家机构共同赞助成立的舞弊性财务报告（“TheCommitteeofSponsoringOrganization”，通称Treadway）所建立的《内部控制－整体框架》（简称“COSO”）

内内部控制框架诞生和历史演查调 整体框架诞生 法案要

机机构对内控的需根据《法案》第404条所制定的「最终条例」明确表明COSO内部控404条款规定，公司CEO,CFO必须对内部控制涉及和执行的有效行负机机构对内控的需联交所上市规则要机机构对内控的需中国国资委风险管理要求国资委公布《企业全面风险管理指引》，系，包括风险管理策略、风险措施、风险管理的组织职能体系、风险管理信息ThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceComponentsofaninternalcontrolsystemControl ernanceandmanagement—Attitudes,awarenessandactionsof—“Setsthetone”bycreatingacultureofhonestyandethical—Provideanappropriatefoundationfortheothercomponentsofinternalcontrol年月分考题！ComponentsofaninternalcontrolsystemTheentity’sriskassessment—HowmanagementidentifiesrisksanddecidesuponactionstomanagethemComponentsofaninternalcontrolsystemInformation—Consistsofinfrastructure,software,people,proceduresand—Therelatedaccountingrecords,supportinginformationandspecificaccountsinthefinancialstatementsthatareusedtorecord,processandreporttransactionsComponentsofaninternalcontrolsystemControl—Thepoliciesandproceduresthathelpensurethatmanagementdirectivesarecarriedout.—ThecategoriesmostrelevanttoanauditPerformanceInformationPhysicalSegregationofduties(recordingvsComponentsofaninternalcontrolsystemAssessthedesignandoperationofcontrolsoverAuditingsmallerTheproblemofManycontrolsareManagementManagementattitudesareverySlideSlideLimitationsofinternalandothers(collusion)Control ManagementdesignandimplementcontrolactivitiestoaddressrisksthatthreatentheTheauditorneedstoobtainanunderstandingofthecontrolactivitiesrelevanttoassessingThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceUseofinternalcontrolsystemsbyauditorsISA315statesthat'theauditorshouldobtainanunderstandingofinternalcontrolrelevanttotheaudit'.UseofinternalcontrolsystemsbyauditorsThiscanbedoneNarrativeTendtobeusedforsimpleFlowWorkwellwheretherearedefinitestagesintheICQs(internalcontrolAseriesofquestionsoneachkeytransactioncyclewhichseektodeterminewhethercertaincontrolsexistICEQs(internalcontrolevaluationMorerobustthanICQsastheycontainquestionswhichenabletheauditortoelicitthecontrolswhichexistTheevaluationofinternalcontrolcomponentsTestsofcontrolaredifferentfromsubstantivetestswhicharedesignedtodetectmaterialmisstatementsinthefinancialstatements.Testsofcontrolaretestsperformedtoobtainauditevidenceabouttheeffectivenessofthe:OperationoftheinternalcontrolsthroughouttheTheevaluationofinternalcontrolcomponentsIfthecontrolsarenotadequa ydesignedornotoperatingeffectively,theauditorneedstore-visittheriskassessmentanddesignsufficientsubstantivetestinginordertoobtainsufficientappropriateauditevidence.Ifthecontroldeficienciesareidentifiedlaterintheauditprocessandtheoriginalauditnwasbasedonarelianceoninternalcontrols,thatauditnwillneedtobeamended.CommunicationofdeficienciesininternalISA265statesthatsignificantdeficienciesininternalcontrolshouldbecommunicatedinwritingtothosechargedwith ernance(TCWG).ThewrittencommunicationisareporttoAdeficiencyininternalcontrol:whenacontrolisdesigned,implementedoroperatedinsuchaswaythatitisunabletoprevent,ordetectandcorrectmisstatementsinthefinancialstatementsonatimelybasis.Asignificantdeficiencyininternalcontrolisadeficiencyorcombinationofdeficienciesininternalcontrolthat,intheauditorsjudgement,isofsufficientimportancetomerittheattentionofTCWG.TypesofcomputerThecontrolswhichtheauditorwouldexpecttofindcanbeconsideredintwocategories:Generalcontrols.PoliciesandproceduresthatrelatetomanyapplicationsandensuretheproperoperationofapplicationApplicationcontrols.Manualorautomatedproceduresthattypicallyoperateatabusinessprocesslevel.CanbepreventativeorRelatetoproceduresusedtoinitiate,processandreporttransactionsorotherfinancialdataChaptersummaryInternalcontrol ’sinternalcontrolsystemistheBoardofDirectors’responsibilityandcomprises:ThecontrolTheentity'sriskassessmentTheinformationControlactivities,MonitoringofUseofinternalcontrolsystemsbyTheauditormustobtainanunderstandingofinternalcontrolIdentifytypesofpotentialAssessDesignappropriateauditChaptersummaryInternalcontrol ’sinternalcontrolsystemistheBoardofDirectors’responsibilityandcomprises:ThecontrolTheentity'sriskassessmentTheinformationControlactivities,MonitoringofUseofinternalcontrolsystemsbyTheauditormustobtainanunderstandingofinternalcontrolIdentifytypesofpotentialAssessDesignappropriateauditChaptersummary Useofinternalcontrolsystemsbyauditors Theauditormustthentheirunderstandingofthe internalcontrolsusingnarrativenotes,flowcharts,ICQsand/orICEQs.Wherecontrolsappeartooperateeffectively,theauditorwilltestthecontrolstogainauditevidence.Somesubstantivetestingmustalwaysbedoneduetotheinherentlimitationsofinternalcontrols TypesofcomputerTheauditorneedstoconsiderbothgeneralandapplicationcontrolsinhisassessmentofcontrolrisk.Chaptersummary GeneralGeneralcontrolsneedtobedesignedandimplementedtomitigaterisksarisingfrominformationtechnology. ApplicationApplicationcontrolsareneededtopreventanddetecterrorsthatcanarisewhendataisinputandprocessed.Chapter10TestsofcontrolsThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicence,yg.,yg.BPPLEARNINGntheUnderstandAssessriskofmaterialmisstatementRespondtoriskExpecteffective ExpectineffectiveTestsofRestrictedsubstantive

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ReporttoFullsubstantiveReporttoAuditor’sThisisalicencedThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGTheauditormusttestthattheIsproperlyYoucanfirstidentifycontrolspresentandthenconsiderhowthesecontrolscanbeconfirmedbytestsofcontrols.TestofControls2- Observation:e.gobservinganinventorycounttoensureitisbeingconductedinaccordancewiththe ’sinventorycountthatithasbeendoneThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceTherearesixtransactioncyclesdetailedintheBankandRevenueandcapital六大业务流1Wages(Payroll)ThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGWages(payroll)ThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGSomeexamplesofinternalcontrolandtestsofcontrolforwages/payrollcycleThisisalicencedcopyofThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGFraud,forEstablishingfakepayrollChangingpayrateswithoutClaimingpaymentformorehoursthanactualCashtheft(wherewagesarepaidinErrorsarisingfromcomplexitiesrelatingtotaxandother六大业务流2Sales/RevenueInternalControlandTestofThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceSalesThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGceOrderceOrderThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGGoodsThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNING dandPayment六大业务流2Sales/Revenue(Chapter14)ThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceAssertion-Cut-DirectconfirmationObtainlistingoftradeAgreetotaltonominalReviewforobviousommissions/misstatements(uselastyear’sforSelectasample(egusinganagedreceivablesreport)CreditNilMaterialLettersentpreparedon ’spaper,signedby madethatrepliesaresentdirectlytotheauditorDirectconfirmationProcess Afterreasonableperiod,sendfollowupFollowupbyphoneorfaxifnoFornonresponses:Adoptalternativeprocedures(egreviewcashreceivedaftertheyearend)DirectconfirmationApositiveconfirmationrequestiswheretheconfirmingpartyrespondsdirectlytotheauditor,indicatingwhethertheyagreewiththeinformationintherequest/providestherequestedinformation.Anegativeconfirmationrequestiswheretheconfirmingpartyrespondsdirectlytotheauditoronlyiftheydisagreewiththeinformationintherequest.Thereceivables’confirmationprovidesgoodauditevidenceoftheexistenceofreceivables,butnotnecessarilyoftheirvaluation.Therefore,inaquestionontheauditofreceivables,remembertoincludeotherauditproceduressuchas yticalprocedures.LectureexampleYouhaveobtainedthefollowingresultsfrom3receivablesbalancescircularisedduringtheauditofChewyCo.DetailthetestsyouwouldperformoneachoftheseAnswertolectureDarthThecashintransitshouldbetracedtothecashreceiptsbookpostyearend.Iwouldexpectittobereceivedwithinafewdaysoftheyearend.Iwouldalsotracethecashtothebankpayinginslip.Again,thisshouldbestampedbythebankpostyearend.AnswertolectureexampleSkywalkerThegoodsintransitshouldbetracedtoaGDNdatedpriortotheyearend.Ifinventoryrecordsexistthedespatchcouldbetracedtotherecordstoconfirmthatitwassentpriortotheyearend.AnswertolectureexampleYodaThereasonforthedisputeand ’sviewsonitshould.Creditnotespostyearendshouldbescrutinisedtodeterminewhetheracreditwasgivenforthedisputedgoods.CashreceiptsshouldbereviewedpostyearendtodeterminewhetherYodaCopaidthefullbalance.Iftheamountisoutstandingattheauditdate,discussrecoverabilitywiththecreditcontroller.ChapterDirectDirectcircularisationofreceivablesisakeyprocedurebutdoesnotgiveevidenceonalltherelevantassertions.OtherOtherimportantproceduresCut-offTeststodetermineSlideThisSlideThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGPassexampaperquestionsyoucantrytopractice:3a1d1dThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicence六大业务流3BankandcashInternalControlandTestofBankandcashThemainobjectives/stagesoftheinternalcontrolsinthiscyclearetoensure:AllmoniesreceivedareAllmoniesreceivedareCashandchequesaresafeguardedagainstlossorAllpaymentsareauthorised,madetocorrectpayeesandPaymentsarenotmadetwiceforthesame（付讫AllmoniesreceivedareAllmoniesreceivedareThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGCashandchequesaresafeguardedlossor ThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGAllpaymentsareauthorized,madetopayeesand ThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGNoduplicateThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNING六大业务流3Bankandcash(Chapter15)ThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGBankconfirmationBankconfirmationOtherISA505–External

BankreconciliationsAttendpettycashcountBankBankandAssertionsandexampleThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBPPLEARNINGThisThisisalicencedcopyofBPPMaterial,intendedsolelyfortheuseoftheagreedlicenceBankconfirmationsforauditpurposesAcommonlyadoptedprocedureintheauditofanentity'sfinancialstatementsisfortheauditortoobtaindirectconfirmationfromtheentity'sbanker(s)of:thefinancialstatements(egguaranteesandforeignexchangeBankconfirmationsareavaluablesourceo