审计学一种整合方法15版英文教辅资源arens15-irm-6

17-1

Chapter17

AuditSamplingforTestsofDetailsofBalances

TheapproachtocoveringauditsamplingfortestsofdetailsofbalancesinChapter17issimilartotheapproachforauditsamplingfortestsofcontrolsandsubstantivetestsoftransactionsinChapter15.Nonstatisticalsamplingiscoveredearlyinthechapter,followedbydiscussionsofmonetaryunitsamplingandvariablessampling(statisticalsamplingmethods).Thesectiononmonetaryunitsamplinghasbeensubstantiallyrevisedbasedonthe2012AICPAAuditSamplingAuditGuide.

WebelievethattheformatofChapter17willprovideyouwithmaximumflexibilityindecidinghowyouwishtoapproachthetopicofauditsamplingfortestsofdetailsofbalances.Thechapterisbuiltaroundthefourteenstepsofauditsampling,whichwerefirstintroducedinChapter15.Allfourteenstepsapplytobothnon-statisticalandstatisticalsampling.Eachstepiscoveredindetailduringthediscussionofnonstatisticalsamplingonpages557through565.Thediscussionsofmonetaryunitsampling(pages566through573)andvariablessampling(pages573through582)usethesesamefourteensteps,butfocusonthedifferencesbetweenhowthestepsareappliedunderthesestatisticalmethodscomparedtononstatisticalsampling.

BeforeassigningChapter17,youmustdecidehowyouwanttoapproachthetopicofauditsamplingfortestsofdetailsofbalances.TherearefourpossibleapproachesforcoveringChapter17:

(1)Covernonstatisticalsamplingonly

(2)Covernonstatisticalsampling,followedbymonetaryunitsampling

(3)Covernonstatisticalsampling,followedbyvariablessampling

(4)Covernonstatisticalsampling,followedbybothmonetaryunitsamplingandvariablessampling(thisapproachisnotrecommendedunlessyouhaveextratimeinyourcourseschedule)

Notethatitisnotfeasibletocovereithermonetaryunitsampling(MUS)orvariablessamplingwithoutfirstcoveringnonstatisticalsampling.ThisisbecausetheMUSandvariablessamplingportionsofthechapterrevolvearoundthefourteenstepsoutlinedduringthenonstatisticalsamplingdiscussion.

Thefollowingaretheprimarytopicalareasthatwesuggestyoucover:

Chapteropeningvignette

Comparisonsofauditsamplingfortestsofdetailsofbalancesandfortestsofcontrolsandsubstantivetestsoftransactions

Nonstatisticalsampling

Monetaryunitsampling[ignorethissectionifusingapproach(1)or(3)discussedearlier]

Variablessampling[ignorethissectionifusingapproach(1)or(2)discussedearlier]

InstructorNote:Statisticalsamplingisahighlycomplexsubjecttowhichjusticecannotalwaysbedoneinanintroductoryauditingcourse.Thereiscertainlystrongjustificationforskippingthetopicentirelyintheintroductorycourse.Werecommendthisbedonewhenanadvancedauditingcourseisincludedintheauditingcurriculum.

17-2

ChapterOpeningVignette―“BothStatisticalandNonstatisticalSamplingareAcceptableUnderGAAS,ButWhicheverisUsed,ItMustbeDoneRight”

Thefundamentalpointofthisvignetteinonesenseisthatstatisticalsamplingrequiresagreaterlevelofexpertisethannonstatisticalsampling.However,non-statisticalsamplingalsorequiresexpertise.Ascertaininghowmuchsamplingerrortoattributetoanonstatisticalsampleisnotaneasyproblem.

Inthevignette,an"expert"wasbroughtinforpartofthestatisticaltask,butdidnotcompleteit.Thestaffauditorwhocompletedthestatisticalevaluationmadeanerrorinthecalculations.Thiscasehighlightsthecomplexityofstatisticalcalculations,andtheneedfortheauditortothoroughlyunderstandtherequirementsofanyaudittask,regardlessoftimeconstraints.

Sincetheauditordidnotunderstandthestatisticalmethod,itisquestionablewhetherastatisticalevaluationshouldhavebeenperformed.However,thesamplewasselectedbasedontheoriginalauditplan,whichcalledforastatisticalevaluation.Thevignetteoffersanopportunitytodiscusstherelativemeritsofstatisticalandnonstatisticalsampling,andwhatrequirementsexistforbothto“doitright.”

ComparisonsofAuditSamplingforTestsofDetailsofBalancesandforTestsofControlsandSubstantiveTestsofTransactions(page556)

WeintroducethetopicofauditsamplingfortestsofdetailsofbalancesusingthesummaryoftheauditprocessinFigure13-9(page423).WethenpointouttostudentsthatChapter17dealswithauditsamplingfortestsofdetailsofbalances.

(SeeFigure13-9)

Next,wediscussthefactthatauditsamplingfortestsofdetailsofbalancesfocusesondollarmisstatementsinaccountbalances.Youshouldcomparethistodetermininganexceptionratefortestsofcontrolsandtherateofmonetarymisstatementsforsubstantivetestsoftransactions(Chapter15).ReviewQuestions17-1and17-7canbecoveredduringthisdiscussion.

NonstatisticalSampling(page557)

Wesuggestthatyoubeginyourdiscussionofnonstatisticalsamplingfortestsofdetailsofbalancesbyreferringbacktothefourteenstepsofauditsamplingfortestsofcontrolsandsubstantivetestsoftransactions,whichwereintroducedinChapter15.YoucanthenuseOH-17-1toshowhowthesefourteenstepscomparebetweenauditsamplingfortestsofdetailsofbalances(Chapter17)andfortestsofcontrolsandsubstantivetestsoftransactions(Chapter15).

(SeeOH-17-1;alsoshownonSlides17-8to17-10)

Next,wecovereachofthefourteenstepsindetail.Thefollowingcomments,beyondwhatthebookdiscusses,areuseful.

Statetheobjectivesoftheaudittest(page557).Thepurposeoftestsofdetailsofbalancesistodeterminewhethertheaccountbalancebeingauditedisfairlystated.

17-3

Decidewhetherauditsamplingapplies(page557).Noadditionalcomments.

Defineamisstatement(page557).Stressthatanymisstatementfoundinasampleisdefinedasamisstatementcondition.

Definethepopulation(page558).Thepopulationisdefinedastherecordeddollarpopulation.Duringthisdiscussion,weusuallyintroducetheconceptofstratifiedsampling.ThefirsttableonOH-17-2isausefulwaytoillustratetheconceptofstratifiedsampling,usingtheexamplefrompage558andtheaccountsreceivablepopulationiable17-1(page558).

(SeeOH-17-2)

(SeeTable17-1)

Definethesamplingunit(page559).Noadditionalcomments.

Specifytolerablemisstatement(page559).Weexplainthattolerablemisstatementisperformancematerialityappliedtoasamplingapplication,andreferstudentsbacktoChapter9foradiscussionofperformancemateriality.

Specifyacceptableriskofincorrectacceptance(ARIA)(page559).CompareARIAtotheacceptableriskofoverreliance,whichappliestoauditsamplingfortestsofcontrolsandsubstantivetestsoftransactions.YoucanalsodiscusshowARIAaffectssamplesizeandtheresultingevidenceaccumulation.Figure17-1(page560)andTable17-2(page560)arehelpfulhere.ReviewQuestions17-10and17-11alsodealwithARIA.

(SeeFigure17-1)

(SeeTable17-2)

Estimatemisstatementsinthepopulation(page561).Noadditionalcomments.

Determinetheinitialsamplesize(page561).Table17-3(page561)isagoodsummaryofthefactorsthatdetermineinitialsamplesize.Problem17-27parta.canbeusedhere.

(SeeTable17-3)

Selectthesample(page562).WestressthatanyofthesamplingmethodsdiscussedinChapter15canbeusedfornonstatisticalsampling.Problem17-27partc.ishelpfulduringthisdiscussion.

Performtheauditprocedures(page562).ThesecondtableonOH-17-2showstheresultsofperformingtheauditproceduresfortheexampleonpage562.

(SeeOH-17-2)

Generalizefromthesampletothepopulation(page562).WereferstudentsbacktothediscussionofapointestimateinChapter9.ThethirdtableonOH-17-2illustratesthecalculationofapointestimatefortheexampleonpage563.

(SeeOH-17-2)

17-4

ReviewQuestion17-3canbeusedhere.Themid-chaptervignetteonpage564providesagreatexampleoftheimportanceofproperlyprojectingsamplemisstatements.

Analyzethemisstatements(page563).Weemphasizethatauditorsmustevaluatethecauseofeachmisstatementtoassesswhetheritindicatesaneedtoreviseriskassessmentsandevidence.

Decidetheacceptabilityofthepopulation(page562).Weexplainthatfornonstatisticalsampling,theauditorcalculatesthedifferencebetweenthepointestimateandtolerablemisstatement(samplingerror).ThiscanberelatedbacktothediscussioninChapter15ofSER-TER,whichalsoresultsinsamplingerror.Wethendiscussdeterminingthesufficiencyofsamplingerrorinordertodeterminetheacceptabilityofthepopulation.

Problem17-27partd.orProblem17-28ishelpfulhere.Case17-35parta.givesstudentspracticeinevaluatingtheresultsofanonstatisticalsample.Finally,wediscusstheauditor’soptionswhenapopulationisrejected(seepage564).

MonetaryUnitSampling(page566)

Note:Youshouldskipthissectionifyoudecidetouseapproach(1)or(3)discussedon1.Toprovidecontinuity,thetextdiscussionofmonetaryunitsampling(MUS)referstothesamefourteenstepsdiscussedduringthenon-statisticalsamplingportionofthechapter.WefocusonthedifferencesbetweenhowthesefourteenstepsareappliedforMUScomparedtononstatisticalsampling.Followingarethemostimportantdifferencesthatwesuggestthatyoucover(seepages566through573fordetaileddiscussion):

Thesamplingunitisanindividualdollar.

Thepopulationsizeistherecordeddollarpopulation.

Samplesizeisdeterminedbystatisticalformula.

Sampleselectionisdoneusingprobabilityproportionaltosize(PPS).

MUStechniquesareusedtogeneralizefromthesampletothepopulation.

WesuggestusingOH-17-1asaframeofreferencefordiscussinghowthefourteenstepsareappliedusingMUS.

(SeeOH-17-1)

Next,wediscusstheconceptofmonetaryunitsamplinganddiscussitsadvantagesanddisadvantages.Weconsideritoptionaltoshowhowtoselectasampleformonetaryunitsampling.Problem17-29isagoodonetousefordemonstratinghowsuchasampleisselected.

EvaluatingasampleusingmonetaryunitsamplingcanbedemonstratedbyusingProblem17-30.Indoingso,wegoovertheterminologyfromtheAuditSamplingAuditguide.AsapartofdiscussingthismaterialitisessentialtorefertoChapter9,discussingbothmaterialityandthedifferentrisks.

(SeeOH-17-3throughOH-17-5)

Ifyouwanttoshowhowtocalculateasamplesizeformonetaryunitsampling,werecommendReviewQuestion17-14.

17-5

VariablesSampling(page573)

Note:Youshouldskipthissectionifyoudecidetouseapproach(1)or(2)discussedon.Wetypicallyspendlittletimeonthismaterial.Theremainderofthematerialinthischapterisintendedforthosewhoprefertoemphasizevariablessamplingintheirstudyofauditsampling.Ifyouplantoemphasizevariablessampling,wesuggestthatyoualsocovertheillustrationusingdifferenceestimation(pages579through582).Problem17-33providesstudentswithpracticeinapplyingdifferenceestimation.

(SeeOH-17-6toT-17-10)

17-6

CHAPTER17

CROSS-REFERENCEOFLEARNINGOBJECTIVESANDPROBLEMMATERIAL

LEARNINGOBJECTIVES

17-1Differentiateauditsamplingfortestsofdetailsof

balancesandfortestsofcontrolsandsubstantivetestsoftransactions.

17-2Applynonstatisticalsamplingtotestsofdetailsof

balances.

17-3Applymonetaryunitsampling.

17-4Describevariablessampling.

17-5Usedifferenceestimationintestsofdetailsof

balances.

DISCUSSION

QUESTIONSANDPROBLEMS

ACL

PROBLEM

ANDCASES

17-27,17-28,

17-32

17-29,17-30,

17-31,17-32

17-32

17-32,17-33

MULTIPLE

CHOICE

QUESTIONS

17-24,17-25

17-25,17-26

17-26

17-26

REVIEWQUESTIONS

17-1,17-6,

17-7

17-2,17-3,

17-4,17-6,

17-7,17-10,

17-12,17-17

17-5,17-6,

17-8,17-9,

17-13,17-14,

17-15,17-16,

17-20,17-23

17-6,17-11,

17-18,17-20,

17-21,17-22,

17-23

17-19

17-34,17-35,

17-36

17-35

OH-17-1

AUDITSAMPLINGFOR

TESTSOFDETAILS

OFBALANCES

PlantheSample

1.Statetheobjectivesoftheaudittest.

2.Decidewhetherauditsamplingapplies.

3.Defineamisstatement.

4.Definethepopulation.

5.Definethesamplingunit.

6.Specifytolerablemisstatement.

7.Specifyacceptableriskofincorrectacceptance.

8.Estimatemisstatementsinthepopulation.

9.Determinetheinitialsamplesize.

SelecttheSampleand

PerformtheAudit

Procedures

10.Selectthesample.

11.Performtheauditprocedures.

EvaluatetheResults

12.Generalizefromthesampletothepopulation.

13.Analyzethemisstatements.

14.Decidetheacceptabilityofthepopulation.

AUDITSAMPLINGFORTESTSOFCONTROLSANDSUBSTANTIVETESTSOFTRANSACTIONS

PlantheSample

1.Statetheobjectivesoftheaudittest.

2.Decidewhetherauditsamplingapplies.

3.Defineattributesandexceptionconditions.

4.Definethepopulation.

5.Definethesamplingunit.

6.Specifytolerableexceptionrate.

7.Specifyacceptableriskofoverreliance.

8.Estimatethepopulationexceptionrate.

9.Determinetheinitialsamplesize.

SelecttheSampleand

PerformtheAudit

Procedures

10.Selectthesample.

11.Performtheauditprocedures.

EvaluatetheResults

12.Generalizefromthesampletothepopulation.

13.Analyzetheexceptions.

14.Decidetheacceptabilityofthepopulation.

OH-17-2

SAMPLINGILLUSTRATION

Stratum

Stratum

Criteria

No.inPopulation

DollarsinPopulation

1

>$15,000

3

$88,955

2

$5,000–$15,000

10

71,235

3

<$5,000

27

40

47,105

$207,295

Stratum

1

2

3

SampleSize

3

9

7

16

DollarsAudited

ClientMisstatement

$(2,740)

971

2,158

$389

RecordedValue

$88,955

43,995

13,105

$146,055

AuditedValue

$91,695

43,024

10,947

$145,666

Stratum

1

2

3

Total

Client

Misstatement/

RecordedValue

oftheSample

$(2,740)/$88,955$971/$43,995$2,158/$13,105

x

Recorded

BookValue

forthe

Stratum

$88,955

71,235

47,105

=

Point

Estimateof

Misstatement

$(2,740)1,5727,757

$6,589

OH-17-3

PROBLEM17-30

SummaryofOverstatementErrors

MISSTATE-

MENT/

RECORDED

VALUE

(TAINTING)

.084

.694

.037

.008

FACTUAL

MISSTATE-

MENT

$230.002,700.0030.00

25.00

$2,985.00

RECORDEDVALUE

$2,728.003,890.00 815.003,215.00

$10,648.00

AUDITEDVALUE

$2,498.001,190.00 785.003,190.00

$7,663.00

ITEM

1

3

4

6

Totals

OH-17-4

PROBLEM17-30

CalculationofUpperMisstatementBound

(a)TAINTING

.694

.084

.037

.008

Totals

Addbasic

(b)

SAMPLING

INTERVAL

19,750

19,750

19,750

19,750

(c=axb)

PROJECTED

MISSTATE-

MENT

13,707

1,659

731

158

(d)

INCREMENTAL

CHANGEIN

CONFIDENCE

FACTOR

1.58

1.44

1.36

1.31

16,255

19,750x