冲刺22年03月aaa串讲提分专场讲义

AAAMarOverviewoftheAAA11232344KeyEthicandProfessionalAccountingissues-Risk,Evidence/AuditproceduresGroupauditriskNon-auditAuditreviewandcompletion,Practicemanagements,Currentissue,EthicandProfessionalProfessionalcompetenceanddueProfessionalSelf-interestthreatIntimidationthreatAdvocacythreatSelf-reviewthreatFamiliaritythreatManagementthreat

Financialinterestin /MoneytransactionwithAnythingthatcreatepressureonPromote ’sAuditourownTooaccepting 'sEthicandProfessionalProfessional=Professionalcompetenceanddue=CanyoudoitRole=TaxWhatyouneedtodo= Canyoudoitproperly=Knowledge?Experience?EthicandProfessionalEthical标准分值4【1】识别道 (self-interestthreat)+原因(financial【1】评估重要程度(significantthreat)+原因(数字materiality,没有数字【1】Code规定(prohibitor【1】措施(declineorapplyProfessionalissues标准分值3【1】专 和职责(professionalroleand【2】需要考虑的因素&applytocaseloanapplication&注意：这不是“大家来EthicandProfessional2018/9CommentontheethicalandprofessionalissuesraisedinrespectoftheauditofTurnerCoandmendanyactionstobetakenbytheauditfirm.(8marks) portfolioasanauditmanageratCoram&CoalsoincludesTurnerCowhichisalistedfinancialinstitutionofferingloansandcreditfacilitiestobothcommercialandretailcustomers.Youhavereceivedan fromtheauditsupervisorwhoiscurrentlysupervisinginterimtestingonsystemsandcontrolsinrelationtotheauditfortheyearending31October20X8.The givesthefollowingdetailsforyourconsideration:Oneoftheauditteammembers,JanetteStott,hasprovisionallyagreedtotakeoutaloanwithTurnerCotofinancethepurchaseofadomesticresidence.Theloanwillbesecuredonthepropertyandthe ’sbusinessmanagerhaspromisedJanettethathewillensurethatshegets‘theverybestdealwhichthebankcanoffer.’EthicandProfessionalLoanfrom 客户借钱给审计Q1:IstheamountA1:No,noA2:Yes→Q2:Is aA1:No,notA2:Yes,normalcourseofbusiness.→Q3:Normallendingprocedures?NospecialA1:Yes,allowed,&applyA2:No,self-interestthreat&evaluateEthicandProfessionalSuggestedTurnerco,alistedfinancialinstitutionprovidesloantoauditorisconsideredtobenormalcourseofbusiness.However,thismaycreateself-interestthreat,duetofinancialinterestinaudit.Significancedependsonamountoftheloanandwhetheritisunderlendingprocedures.Ifamountmaterial offersspecialdiscountforsuchloan,thereissignificantself-interestAuditteammembershouldnotacceptsuchaloanorguarantee .Hence, beexcludedfromauditThekeyissueiswhether‘theverybesttermswhichthebankcanoffer’fallwithinTurnerCo’snormallendingprocedures,andtermsandconditions.Ifthisisthecase,theloanisacceptable,andsafeguardshouldbeapplied,e.g.reviewtheworkdone.EthicandProfessional常见的案例情LoantransactionswithClosebusinessPurchaseofgoodsandservicesfromLongassociationof nelwithan (includingpartnerCompensationandevaluationpolicies=PerformancebonuslinkedtoCorporatefinancePreparingaccountingrecords=Accountingservice,Valuationservice,TaxationFees=Contingentfee,Lowballfee,Largefee,Overduefee,ReferralGiftsandCustody ofReviewofinternalcontrolsystem,AssuranceonAccountingissues-Risk,Evidence/Audit涵盖大部分题型:RiskMatterstoconsiderEvidenceReportingNon-audit标准分值4【1】计算重要性水平并得出结论Calculateandconcludeon【1 相关的会计准则Staterelevantaccounting【1】识别风险或错Identifyriskormisstatementapplyto【1】评估对财报的影响EvaluationimpactonfinancialIASInitialmeasurement:1234(AssetSubsequentmeasurement:Costmodel,Revelationmodel(AnnualDe-资本化/费用化，重估增值/递延所得IASInitialmeasurement=PPE+TransactioncostSubsequentmeasurement:Costmodel,FVmodelChangesinuse2019/9&12Q2aii公允价值模型，资产用途转IASCapitalization资本化/费用IASIndicatorofimpairment:External,ImpairmenttestforIndividualasset:ImpairmenttestforCash-generatingunits(CGUs):Allocation,Dismantlingcost2021/6Reversalofimpairmentloss:DepreciatedHistoricalCost2019/9&12Q2a减值迹象，减值测试，资产IAS无形资产的取得方式&InitialSeparateAcquiredinbusinessInternallygenerated:R&DFinitelifevsIndefinite-Costmodel,RevelationDe-研发费用，使IASLowerofcostand价值，数IASMeasurementofBiologicalassetMeasurementofAgricultureproduce生物资产的计量，使用专IASMeasurementofProvisionandReimbursementContingent预计负债 赔付，公司重IFRS-Reclassification-Accountingtreatment 2019/9&12Q1abIFRSIASRecognitionconditionGrantrelatedtoeGrantrelatedtoAssetRepaymentofernment确认条件，计IFRSFairvaluemeasurement:Principalmarket&MostadvantageousmarketSpecimen1Factorstoconsiderindetermininghighestandbestuse:Specimen1Legally最佳用途假设，使用专IFRSIssueshare:Buyshare:FVTPL,Buybond:Amortisedcost,FVTOCI,Issuebond:Amortisedcost, 债FairvaluehedgevsCashflow套期会IFRSIFRSIdentifyingaSiglelesseeaccountingmodel&Initialrecognitionandmeasurement:Right-of-useasset,LeaseSubsequentSaleandleasebackDrCash-DrRightofuseasset-CV*LeaseCrAsset-CVoftheassetCrLeaseliability-PVofleaseCr/DrGainorlossondisposal-Balancingfigure2019/9&12Q2aiIASCurrenttaxDeferredtaxTaxbaseofanasset= 可予税前除的金Taxbaseofaliability= TaxbaseofereceivedinadvanceIASIASMostdefinedbenefitpensionnsareindeficit(i.e.theobligationexceedsthenassets).However,somedefinedbenefitpensionnsdoshowasurplus.Ifadefinedbenefitnisinsurplus,IAS19statesthatthesurplusmustbemeasuredatthelowerof:theamountcalculatedasthetotalofthepresentvalueofanyeconomicbenefitsavailableintheformofrefundsfromthenorreductionsinfuturecontributionstothen.(effectivelytherecoverableamountofthen)Thisisknownasapplyingthe‘assetceiling’.Itmeansthatasurpluscanonlyberecognisedtotheextentthatitwillberecoverableintheformofrefundsorreducedcontributionsinthefuture.Inotherwords,itensuresthatthesurplusrecognisedinthefinancialstatementsmeetsthedefinitionofan'asset'(aresourcecontrolledbytheentitythatwillleadtoaprobableinflowofeconomicbenefits).Anyimpairmentlossischargedimmediaytoothercomprehensivee.IFRSOtherIASIASIASIFRSIASIASIFRSIFRSIFRSAccountingissues-Risk,Evidence/Audit2019/9&12EvaluatethesignificantauditriskstobeconsideredinnningtheGroupauditforthefinancialyearending30September20X5.GiventhennedGrouprestructuring,youshouldevaluateauditrisksrelatingtodisclosureissuesatthisstageintheauditnning.(24marks)IdentifytheadditionalinformationwhichshouldberequestedfrommanagementinordertoeffectivelyauditthedisposalofPrimalBurgersCo,andexinwhythisinformationisrequired.(4Accountingissues-Risk,Evidence/AuditExistingGroupInformationabouteachoftheGroupcompaniesisgivenRyderCoisthe ofthegroup,a ,whichdoesnottrade,andholdssharesineach Accountingissues-Risk,Evidence/AuditMondaysCoffeeCooperatesoneoftheleadingcoffeeshopchainsinthecountryunderthe‘MondaysCoffee’brand.Itenjoysastrongmarketshareandoperatesmorethan1,200coffeeshopsacrossthePrimalBurgersCooperatesover150fastfoodrestaurants.Inrecentyears,revenuefromBurgersCohasdeclined,butitstillprovides y30%ofGroupInspiral sCoisasuccessful business,withover75 sacrossthecountry.TheacquiredInspiral sCothreeyearsago,aspartofagrowthstrategybasedonAccountingissues-Risk,Evidence/AuditGroupPartlytoprovidesomeofthefinanceneededfortherestructuring,andpartlybecauseofitsdecliningrevenue,theGroupisnningtodisposeofPrimalBurgersCo.TheboardapprovedthisdisposalinMarch20X5.Vendor’sduediligencehasbeencarriedoutbyUsami&Co,afirmofCharteredCertifiedAccountants.Usami&Coconductedanindependentreviewofthe ’sfinancialpositionandfutureprospectsandproducedareportontheirfindings,whichismadeavailabletopotentialbuyers.Attoday’sdate,severalpotentialbuyershaveexpressedaninterestandtheGroupexpectsthatthedisposalwilltakecejustafterthefinancialyearend.Accountingissues-Risk,Evidence/AuditSuggestedAuditDisposalofPrimalBurgersCo– nneddisposalshouldbeclassifiedasheldforTheconditionsmanagementiscommittedto ntotheassetisavailableforimmediateanactiveprogrammetolocateabuyeristhesaleishighlyprobable,within12monthsofclassificationasheldfortheassetisbeingactivelymarketedforsaleatasalespricereasonableinrelationtoitsfair–actionsrequiredtocompletethe nindicatethatitisunlikelythat nwillbesignificantlychangedorwithdrawn.Assumingthattheconditionsaremet,whichseemslikelygiventhattheboardapprovedthesaleinMarch20X5andthatpotentialpurchasershavealreadyexpressedaninterest,theassetsheldinthedisposalgroupshouldbereclassifiedasNCAHFSandmeasuredatthelowerofcarryingamountandfairvaluelesscoststosell.Theassetsshouldnotbedepreciatedafterreclassification.Accountingissues-Risk,Evidence/AuditInaddition,assetsandliabilitiesheldforsaleshouldberecognised yfromotherassetsliabilitiesinthestatementoffinancialRisk=AssetsarenottreatedasadisposalgroupforthepurposeofIFRS5andhave tobeRisk=AssetsarepossiblyovervaluedifanimpairmentreviewhasnotbeenperformedorassetsmeasuredatthelowerofcarryingamountandfairvaluelesscoststoRisk=AssetsandliabilitiesheldforsaleshouldberecognisedseparayfromotherassetsandliabilitiesinSOFP,andiftheyhavenotbeenappropriayreclassified,thennon-currentassetsandliabilitieswillbeoverstated.Accountingissues-Risk,Evidence/AuditDisposalofPrimalBurgersCo–ADOisdefinedasacomponentofanentitywhicheitherhasbeendisposedoforisclassifiedasheldforsale,andrepresentsaseparatemajorlineofbusinessorageographicalareaofGiventhematerialityofPrimalBurgersCoanditsproductsbeingaseparatelineofbusinesstheGroup,itmeetsthedefinitionofaDO.Thepost-taxprofitorlossoftheoperationandthepost-taxgainorlossrecognisedonthemeasurementtofairvaluelesscosttoselloronthedisposalofthedisposalgroupshouldbepresentedasasingleamountonthefaceInaddition,detaileddisclosureofrevenue,expenses,pre-taxprofitorlossandrelatedetaxesisrequiredeitherinthenotesorinSOCIinasectiondistinctfromcontinuingoperations.Risk=PrimalBurgersCoisnottreatedasDOinaccordancewithIFRSRisk=Necessarydisclosuresarenotmade,leadingtoincorrectpresentationofGroupprofitlossandpleteinformationinthenotestotheGroupfinancialAccountingissues-Risk,Evidence/AuditAdditionalinfoandObtainindividualFSofPrimalBurgersCo,toascertainthedetailoftheamountsrecognised;thiswillassisttheauditteaminnningtoauditthecompliancewithmeasurementanddisclosurerequirementsofIFRS5.FileacopyofduediligencereportproducedbyUsami&Co,toascertainkeyfindings,e.g.valuationsofassetsandliabilities;thiswillhelpinnningtoauditthemeasurementofthedisposalgroupandwhetheranyimpairmentshouldberecognised.Understandthemanagement’srationaleandhowthedisposalfitsinwiththeGrouprestructuringasawhole,byreferencetodetailsofBODminutesofmeetingatwhichapprovalwasgivenforthedisposal.InformationregardingthepotentialacquirersofPrimalBurgersCoandthestageofnegotiations;thiswillhelptheauditteamdevelopanexpectationastowhetherthedisposalislikelytotakeceaftertheyearendandthepotentialsalesprice.Obtainacopyofmanagement’sassessment/workingsoftheimpactontheGroup’sfinancialonthesaleofPrimalBurgersCoandtheoverallimpactoftherestructureoftheBusinessRevenue,Profit,Cashflows,Reputation,把自己当成公司的Director，而不是Auditor，不要出现会计准则RiskofMaterialMisstatement=【1】计算重要性水平并得出结论Calculateandconcludeon【1 相关的会计准则StateRelevantaccounting【1】识别风险或错报IdentifyriskorMisstatementapplyto【1】评估对财报的影响EvaluationimpactonfinancialAuditrisk=WithWithoutGroupauditRMM–IndividualFSRMM–ConsolidatedFSOverseassubsidiaries'FSinforeigncurrency-translationInitialandsubsequentmeasurementofgoodwillConsolidationofeandexpensesofnewlyacquiredsubsidiaryAuditofconsolidationschedule,e.g.Intra-grouptransactionsAuditofdisposalofsubsidiaryDifferentfinancialyearendsDifferentaccountingpoliciesAuditofAssociateDetection1styearaudit:lackofexistingknowledge/openingbalanceSubsidiaryisauditedbycomponentauditor,relyonworkAuditQualifiedopinion根据原因&程度决定审计意见类KAM&EOM&OM&OI&GCuncertainty在审计报告中的位置和内Prioryearproblem去年的问题，今年发CriticizeauditOtherReportoninternalcontrolReportongeneralKeyAuditMattersparagraph-当期审计过程中，依审计师判断，有重大意义的事项（判断的领域，期间发生的重大事项），比如GoodillipairentEmphasisofMatterparagraph–Highlightimportantthingsrelatedtoaccountingwhichhavebeenaccountedforcorrectly强调会计面的事项，而且是记对了OtherMatterparagraph–审计过，去年是其 审计OtherInformationparagraph–年报中的信息与财报不MaterialUncertaintyRelatedtoGoing存在Goingconcernuncertainty，且已经充分披露，使用这个段落，通常放在KAM前TypeJustifyauditopinion&Impacton会计准则为什么给这个意见报告怎么变Basisparagraphimmediayafterparagraphtoexinmisstatement/limitation,Headingshouldbe,Stateexceptforthis,FSareT&F,etc.

TypeCriticizeauditreport 2018/3&6Criticallyappraisetheextractfromtheauditor’sreportontheconsolidatedfinancialstatementsoftheBlackmoreGroupfortheyearended31March2018.YouareNOTrequiredtore-drafttheextractfromtheauditor’sreport.(12marks)YouarethemanagerresponsiblefortheauditoftheBlackmoreGroup(theGroup),alistedmanufacturerofhighqualitymusicalinstruments,fortheyearended31March2018.ThedraftfinancialstatementsoftheGrouprecognisealossbeforetaxof$2·2million(2017–lossof$1·5million)andtotalassetsof$14·1million(2017–$18·3million).Theauditisnearingcompletionandtheauditseniorhasdraftedtheauditor’sreportwhichcontainsthefollowingextract:KeyauditTheGroupentersintostructuredforwardcontractstopurchasematerialsusedinitsmanufacturingprocess.ThevaluationoftheseunquotedinstrumentsinvolvesguessworkandisbasedoninternalmodelsdevelopedbytheGroup’sfinancedirector,ThomasBolin.MrBolinjoinedtheGroupinJanuary2018andthereissignificantmeasurementuncertaintyinvolvedinhisvaluationsasaresultofhisinexperience.Asaresult,thevaluationofthesecontractswassignificanttoouraudit.CustomerIncludedinreceivablesshownontheconsolidatedstatementoffinancialpositionisanamount$287,253fromacustomerwhichhasceasedtrading.OnthebasisthattheGrouphasnosecurityforthisdebt,webelievethattheGroupshouldmakeafullprovisionforimpairmentof$287,253therebyreducingprofitbeforetaxationfortheyearandtotalassetsasat31March2018bythatamount.QualifiedopinionarisingfromdisagreementaboutaccountingInouropinion,exceptfortheeffectonthefinancialstatementsofthematterdescribedabove,thefinancialstatementshavebeenproperlypreparedinallmaterialrespectsinaccordancewithIFRSEmphasisofWedrawattentiontothelossbeforetaxof$2·2millionfortheyearended31March2018andthattheGroupisinbreachofloancovenantswithitskeyfinanceproviders.AmaterialuncertaintythereforeexistswhichmaycastdoubtontheGroup’sabilitytocontinueasagoingconcern.Ouropinionisnotmodifiedinrespectofthismatter.SuggestedThesectionshouldincludeanintroductionstatingSignificanceofKAM=Keyauditmattersarethosemattersthat,inourprofessionalwereofmostsignificanceinourauditofthefinancialstatementsofthecurrentAuditorisnotformingaseparateopinionontheitemsidentifiedasKAM=Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.Thisisanareaofsignificantauditjudgementwithahighriskofmaterialmisstatement,henceinclusionasKAMisappropriate.Auditorshouldfythesizeandsignificanceoftheissueand ineditsDescribehowtheKAMwasaddressedintheBesides,thereportshouldnotrefertotheGroup’sfinancedirectorbynameandshouldnotimplycriticismofhimasresultofhisinexperience.Theuseoftheword‘guesswork’isinappropriateand287,253/2,200,000=13%ofLoss,materialto287,253/14,100,000=2%ofTA,materialtoThisisamaterialbutnotpervasivemisstatement,qualifyexceptforopinionisHowever,thedetailsofthematerialmisstatementshouldnotbeincludedintheKAMatallbutbegiveninthebasisforqualifiedopinionOpinionTitle=Qualified2)Sequence=Theopinionparagraphshouldbeclearlycrossreferencedtothe‘BasisforQualifiedOpinion’paragraphwhichshouldbecedimmediaybelowtheopinionparagraphandshouldclearlydescribetheissuewhichhasgivenrisetoaqualifiedopinion.AsforGCuncertainty,auditor’sreportshouldnowincludeaspecificsectionheaded‘MaterialUncertaintyRelatedtoGoingConcern’immediayafterthebasisforopinionparagraphandbeforetheKAMsection.ThematerialuncertaintyrelatedtogoingconcernshouldbecrossreferencedclearlytothenotewherethedirectorshavegivendetailsoftheDueOperationalandITduediligence生产经营，IT风险方Peopledue 人员方面（合同终止成本，整合成本等Environmentalduediligence环境，安全等方Forensicaudit收 +量化损Useaccountingandauditingknowledgetogatherevidenceforlegal ，类似于审计，通 的财 发现将用 或协助解决纠AssuranceonExaminationonPFIForecastSOCFForecastSOPLForecastSOFP2019/9&12mendtheprocedureswhichshouldbeperformedinorderto fytheinventoryloss;and(6EvaluatethedeficienciesinBeyerCo’sinternalcontrolsystem,and inhowcontributedthefraud,togetherwithmendationstopreventsuchafraudreoccurring.(6Havingacceptedtheengagement,theoperationsdirectorprovidesyouwiththesummaryoftheallegationsofthewhistle-‘Thewarehousemanagerhasbeenworkingwithoneofthesalesrepresentativestodispatchgoodstoafictitiouscustomerwhichthewarehousemanagerhascreatedonthedispatchsystem.Thesalesordersareinputbythesalesrepresentativeintothedispatchsystemwhichisnotdirectlylinkedtotheinvoicingandaccountingsystem.Afterthegoodsdispatchnoteisissuedbythewarehousemanagerandthegoodsleavethewarehousefordeliverytothefictitiouscustomer,thesalesrepresentativecancelstheoriginalorder.Thewarehousemanagerreversesthedispatchimmediaysothatthedailyreportoninventorymovementusedtogenerate sinthesalessystemdoesnotreflectmovementofthegoods.Thesalesrepresentativetakesdeliveryofthegoodsattheaddressofthefictitiouscustomerandthensellsthepartsontheinternet,splittingtheproceedswiththewarehousemanager.Thewarehousemanagersupervisesandparticipatesinallinventorycountsandthiswayensuresheisabletoadjusttherecordsofinventorytodisguisethemissingitems.TheoperationsdirectorhasinformedyouthatnoauthorisationisrequiredforeitherthecancellationordersorthereversalofdispatchSuggestedInterviewsales,warehouseandaccountingstafftoidentifythesystem ceforcreatingaorderandforsettingupcustomerswithinthesalesandinventoryObtainreconciliationofall cedincludingcancelledordersto sraisedtothetotalofall cedbut dtoestablish umpotentialvalueoftheArrangetoconductafullinventorycounttoidentifydiscrepanciesbetweentheinventoryandphysicalInvestigaterecordsofinventorywrittenofftoidentifypossibleattemptstodisguisetheIdentifywhichcustomersthoseordersareassignedtoandverifytheirexistencewithintheinvoicingsystemand,wherepossible,theirregisteredbusinessaddresstoensuretheyaregenuineFromthis,identifyfictitiouscustomersandreconciletheircancelledorderstothediscrepanciesObtaininventorylistingtoidentifythecostofthepartsstolenandcalculatethecostoftheinventoryidentifiedasrelatingtothefictitiouscustomerorders.ControlLackofsegregationofdutiesandmonitoringoforderThereisalackofinternalcontroloverthewarehouseteam,particularlyinrelationtoauthorisationapprovalofThewarehousemanagerhavingtheabilitytocreatenewcustomersonthesystemwithoutauthorizationhasallowedfictitiouscustomerstobecreated.Theability