审计基础(英文版)课件

审计基础(英文版)课件Chapter1AuditingandAssuranceServices"Ifyouwanttobesuccessful,it'sjustthissimple:Knowwhatyou'redoing.Lovewhatyou'redoing.Andbelieveinwhatyou'redoing."--WillRogers

McGraw-Hill/IrwinCopyright©2008byTheMcGraw-HillCompanies,Inc.Allrightsreserved.Chapter1AuditingandAssuranChapter1Objectives1. Defineinformationriskandexplainhowauditingandassuranceservicesplayaroleinreducingthisbusinessrisk.2. Defineandcontrastauditing,attestation,andassurance

services.3. Describeanddefinethemanagementassertionsembodiedinfinancialstatements,andexplainwhyauditorsusethemasafocalpointoftheaudit.4. Explainsomecharacteristicsofprofessionalskepticism.5. Describetheorganizationofpublicaccountingfirmsandidentifythevariousservicestheyoffer.6. Describetheauditsandauditorsingovernmental,internal,andoperationalauditing.7. Listandexplaintherequirementsforbecomingacertifiedinformationprofessional.1-3Chapter1Objectives1. DefineUserDemandforReliableInformationBusinessrisk?Today’sinformationMorecomplexDemandedbyremoteusersDemandedinamoretimelymannerHasfarreachingconsequencesInformationrisk

therisk(probability)thattheinformation(mainlyfinancial)disseminatedbyacompanywillbemateriallyfalseormisleading.usersdemandanindependentthirdpartyassessmentoftheinformation.1-4UserDemandforReliableInforDistinguishBetween

AuditingandAccountingAccountingistherecording,classifying,andsummarizingofeconomiceventsforthepurposeofprovidingfinancialinformationusedindecisionmaking.Auditing

isdeterminingwhetherrecordedinformationproperlyreflectstheeconomiceventsthatoccurredduringtheaccountingperiodDistinguishBetween

Auditinga

ReviewCheckpoints

Whatisbusinessrisk?Whatconditionsincreasedemandforrelevant,reliableinformation?Whatriskcreatesademandforobjectiveoutsiderstoprovideassurancetodecisionmakers?

ReviewCheckpoints

WhatisbuExhibit1.2

OverviewofFinancialStatementAuditing1-7Exhibit1.2

OverviewofFinancDefinitionofAuditingAuditingisasystematicprocessofobjectivelyobtainingandevaluatingevidenceregardingassertionsabouteconomicactionsandeventstoascertainthedegreeofcorrespondencebetweentheassertionsandestablishedcriteriaandcommunicatingtheresultstointerestedusers.FinancialStatements(includingfootnotes)GAAPAuditor'sReport/OtherReportsPersonswhorelyonthefinancialreportsCreditorsInvestorsSource:AmericanAccountingAssociationCommitteeonBasicAuditingConcepts.1973.AStatementofBasicAuditingConcepts,AmericanAccountingAssociation(Sarasota,FL).1-8DefinitionofAuditingAuditingTheRelationshipsAmongAuditing,Attestation,andAssuranceEngagementsAssuranceServicesAnyInformationAttestationServicesPrimarilyFinancialInformationAuditingFinancialStatements1-9TheRelationshipsAmongAuditiAssuranceServicesAssuranceservicesareindependentprofessionalservicesthatimprovethequalityofinformation,oritscontext,fordecisionmakers.ExamplesConsumerreportsUnderwriterslaboratoriesCPAWebTrustPerformanceViewPrimePlusServices1-10AssuranceServicesAssuranceseAttestationEngagementsAnattestationengagement

-apractitionerisassessesandreportson“subjectmatter

oranassertionaboutthesubjectmatterthatistheresponsibilityofanotherparty.”Somefinancialattestationengagements(otherthanaudits)SupplementaryfinancialstatisticsProformafinancialinformationFinancialforecastsandprojectionsSomenon-financialattestationengagementsCompliancewithcontractualrequirementsEffectivenessofinternalcontrolsystemsInventoryquantitiesandlocations1-11AttestationEngagementsAnatteSarbanes-OxleyActof2002InresponsetoseveralaccountingrelatedcorporatescandalsCongresspassedtheSarbanes-OxleyActTheAct’smajorprovisionsinclude:RequirementofCEO/CFOcertificationoffinancialstatementsRequirementofauditorexaminationofcompanyinternalcontrolsCreationofthePublicCompanyAccountingOversightBoard(PCAOB)toserveasanauditingprofession“watchdog.”Prohibitionofcertainclientservicesbyfirmsconductingaclient’saudit.1-12Sarbanes-OxleyActof2002InrSarbanes-Oxley:

Management’sResponsibilityForFinancialReporting

Oneofitsmostimportantprovisions(Section302)statesthatthekeycompanyofficialsmustcertifythefinancialstatements.ThecompanyCEOandCFOmustsignastatementindicating:

Theyhavereadthefinancialstatements.

Theyarenotawareofanyfalseormisleadingstatements(oranykeyomitteddisclosures).

Theybelievethatthefinancialstatementspresentanaccuratepictureofthecompany’sfinancialcondition.

Source:U.S.Congress,Sarbanes-OxleyActof2002,Pub.L.107-204,116Stat/745(2002).

1-13Sarbanes-Oxley:

Management’sPCAOBManagementAssertionsExistenceoroccurrence–AssetsincludedinaccountsexistsandeventsthatgiverisetotransactionshavetakenplaceRightsandobligations-EntityhasalegalclaimonallassetsandrevenuesreportedandhasalegalresponsibilityforallliabilitiesandexpensesCompleteness-AlltransactionshavebeenrecordedValuationorallocation–TransactionsarerecordedatthecorrectamountintheproperperiodPresentationanddisclosure–Allaccountsarepresentedintheappropriateplaceandallinformationrequiredhasbeendisclosedinthestatementsandfootnotes.1-14PCAOBManagementAssertionsExiManagementAssertions(SAS106)TransactionAssertionsOccurrence–EventsgivingrisetotransactionshavetakenplaceCompletenessandcutoff-AlltransactionshavebeenrecordedandarerecordedintheappropriateperiodAccuracy–TransactionsarerecordedatthecorrectamountClassifications–Transactionshavepostedtotheproperaccount1-15ManagementAssertions(SAS106ManagementAssertions(SAS106)BalanceAssertionsExistence–BalancesincludeonlyassetsexistRightsandobligationsEntityhaslegalclaimonallassetsandrevenuesreportedEntityhasalegalresponsibilityforallliabilitiesandexpensesCompleteness–BalancesincludeallitemsAccuracyandvaluation–Balancesincludeditemsrecordedintheproperperiodattheproperamount1-16ManagementAssertions(SAS106ManagementAssertions(SAS106)PresentationandDisclosureAssertionsOccurrenceandrightsandobligations–itemspresentedincludeinformationregardingownershipCompleteness

-AllaccountsareincludedClassificationandunderstandabilityAllaccountsareappropriatelygroupedUserscancomprehendstatementsanddisclosuresAccuracyandvaluation–Statementsincludepropermeasurements1-17ManagementAssertions(SAS106Exhibit1.5

ExampleAssertionsandtheirRelationshipstotheFinancialStatements1-18Exhibit1.5

ExampleAssertionsProfessionalSkepticismProfessionalskepticism-auditor’squestioning,evaluative,attitudetowardevidenceManagement’sassertionswithoutsufficientcorroboration.FinancialtrendsneedinvestigationDocumentsarecheckedforauthenticityoralterationAskquestions,getanswers,thenverifytheanswers.Apotentialconflictofinterestalwaysexistsbetweentheauditorandtheclient.Managementwantstoportraythecompanyanditsoperationsinthebestpossiblelight.Auditorswanttoportraythecompanyanditsoperationsfairly.1-19ProfessionalSkepticismProfessProfessionalServiceFirmOrganizationExecutiveCommitteeManagingPartnerPracticeOfficesPartners-in-ChargeConsultingServicesAudit,AssuranceandBusinessAdvisoryServicesTaxConsultingServicesPartnerManagerManagerManagerSenior(In-charge)AccountantsStaffAccountants(orAssociates)PartnerManagerManagerManagerSenior(In-charge)AccountantsStaffAccountants(orAssociates)1-20ProfessionalServiceFirmOrga审计基础(英文版)课件ThePublicAccountingProfessionAssuranceservicesAuditengagementsAssuranceengagementsAttestationengagementsCompilationsReviewsTaxconsultingservicesConsultingservices1-22ThePublicAccountingProfessiProhibitedServicestoAuditClientsSarbanes-OxleyandthePCAOBprohibitprofessionalservicefirmsfromprovidinganyofthefollowingservicestoanauditclient:bookkeepingandrelatedservicesdesignorimplementationoffinancialinformationsystemsappraisalorvaluationservicesactuarialservicesinternalauditoutsourcingmanagementorhumanresourcesservicesinvestmentorbroker/dealerserviceslegalandexpertservices(unrelatedtotheaudit)Professionalservicefirmsmayprovideclienttaxservices(withsomerestrictions)andothernon-prohibitedservicestoauditclientsifthecompany’sauditcommitteehasapprovedtheminadvance.Insummary,Sarbanes-Oxleyprohibitsprofessionalservicefirmsfromperforminganyclientservicesinwhichtheauditorsmayfindthemselvesmakingmanagementdecisionsorauditingtheirownfirm’swork.1-23ProhibitedServicestoAuditCTypesofAuditsandAuditorsFinancial(ExternalAuditors/CPAs)Ensurethatfinancialstatementsareaccurate.Operational(InternalandGovernmentalAuditors/CIAs)ImproveoperationaleconomyImproveoperationalefficiencyCompliance(InternalandGovernmentalAuditors)Ensurecompliancewithcompanyand/orgovernmentalrulesandregulationsForensic(FraudAuditors/CFEs)Mostauditsareacombinationoffinancial,operational,andcomplianceaudits.1-24TypesofAuditsandAuditorsFOrganizationoftheProfession“BigFour”AccountingFirmsD&T,E&Y,KPMG,PwCNationalGrantThornton,BDOSeidmanLocal/RegionalMelton&Melton(Houston)PlanteMoran(Michigan/Illinois/Wisconsin)Goodman&Company(Virginia)SoleProprietor1-25OrganizationoftheProfessionBecomeCertified!EducationExaminationExperienceSkillssetsandyoureducation1-26BecomeCertified!Education1-26EngagementOverviewOBTAIN(ORRETAIN)CLIENTRISKASSESSMENTEVIDENCEGATHERING

REPORTINGENGAGEMENTPLANNING1-27EngagementOverviewRISKEVIDENWhyareauditsneeded?DirectorsmotivatedtoshowgoodresultShareholdersneedrealismImpracticalforshareholderstocheckaccountsAuditorsalsoreportonwhetherproperbooksandrecordshavebeenkeptandonanyweaknessesintheaccountingsystemsWhyareauditsneeded?Director审计基础(英文版)课件Chapter1AuditingandAssuranceServices"Ifyouwanttobesuccessful,it'sjustthissimple:Knowwhatyou'redoing.Lovewhatyou'redoing.Andbelieveinwhatyou'redoing."--WillRogers

McGraw-Hill/IrwinCopyright©2008byTheMcGraw-HillCompanies,Inc.Allrightsreserved.Chapter1AuditingandAssuranChapter1Objectives1. Defineinformationriskandexplainhowauditingandassuranceservicesplayaroleinreducingthisbusinessrisk.2. Defineandcontrastauditing,attestation,andassurance

services.3. Describeanddefinethemanagementassertionsembodiedinfinancialstatements,andexplainwhyauditorsusethemasafocalpointoftheaudit.4. Explainsomecharacteristicsofprofessionalskepticism.5. Describetheorganizationofpublicaccountingfirmsandidentifythevariousservicestheyoffer.6. Describetheauditsandauditorsingovernmental,internal,andoperationalauditing.7. Listandexplaintherequirementsforbecomingacertifiedinformationprofessional.1-31Chapter1Objectives1. DefineUserDemandforReliableInformationBusinessrisk?Today’sinformationMorecomplexDemandedbyremoteusersDemandedinamoretimelymannerHasfarreachingconsequencesInformationrisk

therisk(probability)thattheinformation(mainlyfinancial)disseminatedbyacompanywillbemateriallyfalseormisleading.usersdemandanindependentthirdpartyassessmentoftheinformation.1-32UserDemandforReliableInforDistinguishBetween

AuditingandAccountingAccountingistherecording,classifying,andsummarizingofeconomiceventsforthepurposeofprovidingfinancialinformationusedindecisionmaking.Auditing

isdeterminingwhetherrecordedinformationproperlyreflectstheeconomiceventsthatoccurredduringtheaccountingperiodDistinguishBetween

Auditinga

ReviewCheckpoints

Whatisbusinessrisk?Whatconditionsincreasedemandforrelevant,reliableinformation?Whatriskcreatesademandforobjectiveoutsiderstoprovideassurancetodecisionmakers?

ReviewCheckpoints

WhatisbuExhibit1.2

OverviewofFinancialStatementAuditing1-35Exhibit1.2

OverviewofFinancDefinitionofAuditingAuditingisasystematicprocessofobjectivelyobtainingandevaluatingevidenceregardingassertionsabouteconomicactionsandeventstoascertainthedegreeofcorrespondencebetweentheassertionsandestablishedcriteriaandcommunicatingtheresultstointerestedusers.FinancialStatements(includingfootnotes)GAAPAuditor'sReport/OtherReportsPersonswhorelyonthefinancialreportsCreditorsInvestorsSource:AmericanAccountingAssociationCommitteeonBasicAuditingConcepts.1973.AStatementofBasicAuditingConcepts,AmericanAccountingAssociation(Sarasota,FL).1-36DefinitionofAuditingAuditingTheRelationshipsAmongAuditing,Attestation,andAssuranceEngagementsAssuranceServicesAnyInformationAttestationServicesPrimarilyFinancialInformationAuditingFinancialStatements1-37TheRelationshipsAmongAuditiAssuranceServicesAssuranceservicesareindependentprofessionalservicesthatimprovethequalityofinformation,oritscontext,fordecisionmakers.ExamplesConsumerreportsUnderwriterslaboratoriesCPAWebTrustPerformanceViewPrimePlusServices1-38AssuranceServicesAssuranceseAttestationEngagementsAnattestationengagement

-apractitionerisassessesandreportson“subjectmatter

oranassertionaboutthesubjectmatterthatistheresponsibilityofanotherparty.”Somefinancialattestationengagements(otherthanaudits)SupplementaryfinancialstatisticsProformafinancialinformationFinancialforecastsandprojectionsSomenon-financialattestationengagementsCompliancewithcontractualrequirementsEffectivenessofinternalcontrolsystemsInventoryquantitiesandlocations1-39AttestationEngagementsAnatteSarbanes-OxleyActof2002InresponsetoseveralaccountingrelatedcorporatescandalsCongresspassedtheSarbanes-OxleyActTheAct’smajorprovisionsinclude:RequirementofCEO/CFOcertificationoffinancialstatementsRequirementofauditorexaminationofcompanyinternalcontrolsCreationofthePublicCompanyAccountingOversightBoard(PCAOB)toserveasanauditingprofession“watchdog.”Prohibitionofcertainclientservicesbyfirmsconductingaclient’saudit.1-40Sarbanes-OxleyActof2002InrSarbanes-Oxley:

Management’sResponsibilityForFinancialReporting

Oneofitsmostimportantprovisions(Section302)statesthatthekeycompanyofficialsmustcertifythefinancialstatements.ThecompanyCEOandCFOmustsignastatementindicating:

Theyhavereadthefinancialstatements.

Theyarenotawareofanyfalseormisleadingstatements(oranykeyomitteddisclosures).

Theybelievethatthefinancialstatementspresentanaccuratepictureofthecompany’sfinancialcondition.

Source:U.S.Congress,Sarbanes-OxleyActof2002,Pub.L.107-204,116Stat/745(2002).

1-41Sarbanes-Oxley:

Management’sPCAOBManagementAssertionsExistenceoroccurrence–AssetsincludedinaccountsexistsandeventsthatgiverisetotransactionshavetakenplaceRightsandobligations-EntityhasalegalclaimonallassetsandrevenuesreportedandhasalegalresponsibilityforallliabilitiesandexpensesCompleteness-AlltransactionshavebeenrecordedValuationorallocation–TransactionsarerecordedatthecorrectamountintheproperperiodPresentationanddisclosure–Allaccountsarepresentedintheappropriateplaceandallinformationrequiredhasbeendisclosedinthestatementsandfootnotes.1-42PCAOBManagementAssertionsExiManagementAssertions(SAS106)TransactionAssertionsOccurrence–EventsgivingrisetotransactionshavetakenplaceCompletenessandcutoff-AlltransactionshavebeenrecordedandarerecordedintheappropriateperiodAccuracy–TransactionsarerecordedatthecorrectamountClassifications–Transactionshavepostedtotheproperaccount1-43ManagementAssertions(SAS106ManagementAssertions(SAS106)BalanceAssertionsExistence–BalancesincludeonlyassetsexistRightsandobligationsEntityhaslegalclaimonallassetsandrevenuesreportedEntityhasalegalresponsibilityforallliabilitiesandexpensesCompleteness–BalancesincludeallitemsAccuracyandvaluation–Balancesincludeditemsrecordedintheproperperiodattheproperamount1-44ManagementAssertions(SAS106ManagementAssertions(SAS106)PresentationandDisclosureAssertionsOccurrenceandrightsandobligations–itemspresentedincludeinformationregardingownershipCompleteness

-AllaccountsareincludedClassificationandunderstandabilityAllaccountsareappropriatelygroupedUserscancomprehendstatementsanddisclosuresAccuracyandvaluation–Statementsincludepropermeasurements1-45ManagementAssertions(SAS106Exhibit1.5

ExampleAssertionsandtheirRelationshipstotheFinancialStatements1-46Exhibit1.5

ExampleAssertionsProfessionalSkepticismProfessionalskepticism-auditor’squestioning,evaluative,attitudetowardevidenceManagement’sassertionswithoutsufficientcorroboration.FinancialtrendsneedinvestigationDocumentsarecheckedforauthenticityoralterationAskquestions,getanswers,thenverifytheanswers.Apotentialconflictofinterestalwaysexistsbetweentheauditorandtheclient.Managementwantstoportraythecompanyanditsoperationsinthebestpossiblelight.Auditorswanttoportraythecompanyanditsoperationsfairly.1-47ProfessionalSkepticismProfessProfessionalServiceFirmOrganizationExecutiveCommitteeManagingPartnerPracticeOfficesPartners-in-ChargeConsultingServicesAudit,AssuranceandBusinessAdvisoryServicesTaxConsultingServicesPartnerManagerManagerManagerSenior(In-charge)AccountantsStaffAccountants(orAssociates)PartnerManagerManagerManagerSenior(In-charge)AccountantsStaffAccountants(orAssociates)1-48ProfessionalServiceFirmOrga审计基础(英文版)课件ThePublicAccountingProfessionAssuranceservicesAuditengagementsAssuranceengagementsAttestationengagementsCompilationsReviewsTaxconsultingservicesConsultingservices1-50ThePublicAccountingProfessiProhibitedServicestoAuditClientsSarbanes-OxleyandthePCAOBprohibitprofessionalservicefirmsfromprovidingany