《Introduction to Accounting》课件-unit章节 13-2章节

Unit13Auditing2Anauditisanexercisewhoseobjectiveistoenableauditorstoexpressanopinionwhetherthefinancialstatementsareprepared,inallmaterialrespects,inaccordancewithanidentifiedfinancialreportingframework.Auditprovideshigh,butnotabsolutelevelofassurance,expressedintheauditreportasreasonableassurance.Reasonableassuranceisnotaguaranteeofcorrectness,butanassuranceoftruthandfairnesswithinareasonablemarginoferror.3ContentⅠ.AuditingStandardandProfessionalEthicsⅡ.TypesofAuditingⅢ.AuditingProceduresⅣ.AuditReportⅤ.TypesofAuditReportⅥ.Asampleofauditreport(CSAC)4GeneralStandardsFieldworkStandards

ReportingStandards1.AuditingStandardⅠ.AuditingStandardandProfessionalEthics5GeneralStandards1.Theauditormusthaveadequatetechnicaltrainingandproficiencytoperformtheaudit.2.Theauditormustmaintainindependenceinmentalattitudeinallmattersrelatedtotheaudit.3.Theauditormustusedueprofessionalcareduringtheperformanceoftheauditandthepreparationofthereport.

6FieldworkStandards1.Theauditormustadequatelyplantheworkandmustproperlysuperviseanyassistants.2.Theauditormustobtainasufficientunderstandingoftheentityanditsenvironment,includingitsinternalcontrol,toassesstheriskofmaterialmisstatementofthefinancialstatementswhetherduetoerrororfraud,andtodesignthenature,timing,andextentoffurtherauditprocedures.3.Theauditormustobtainsufficientappropriateauditevidencebyperformingauditprocedurestoaffordareasonablebasisforanopinionregardingthefinancialstatementsunderaudit.7ReportingStandards1.Theauditormuststateintheauditor'sreportwhetherthefinancialstatementsarepresentedinaccordancewithgenerallyacceptedaccountingprinciples.2.Theauditormustidentifyintheauditor'sreportthosecircumstancesinwhichsuchprincipleshavenotbeenconsistentlyobservedinthecurrentperiodinrelationtotheprecedingperiod.3.Whentheauditordeterminesthatinformativedisclosuresarenotreasonablyadequate,theauditormustsostateintheauditor'sreport.

84.Theauditormusteitherexpressanopinionregardingthefinancialstatements,takenasawhole,orstatethatanopinioncannotbeexpressed,intheauditor'sreport.Whentheauditorcannotexpressanoverallopinion,theauditorshouldstatethereasonsthereforeintheauditor'sreport.Inallcaseswhereanauditor'snameisassociatedwithfinancialstatements,theauditorshouldclearlyindicatethecharacteroftheauditor'swork,ifany,andthedegreeofresponsibilitytheauditoristaking,intheauditor'sreport.92.ProfessionalEthics(a)IntegrityAprofessionalaccountantshouldbestraightforwardandhonestinallprofessionalandbusinessrelationships.(b)ObjectivityAprofessionalaccountantshouldnotallowbias,conflictofinterestorundueinfluenceofotherstooverrideprofessionalorbusinessjudgments.(c)ProfessionalCompetenceandDueCareAprofessionalaccountanthasacontinuingdutytomaintainprofessionalknowledgeandskillatthelevelrequiredtoensurethataclientoremployerreceivescompetentprofessionalservicebasedoncurrentdevelopmentsinpractice,legislationandtechniques.10(d)ConfidentialityAprofessionalaccountantshouldrespecttheconfidentialityofinformationacquiredasaresultofprofessionalandbusinessrelationshipsandshouldnotdiscloseanysuchinformationtothirdpartieswithoutproperandspecificauthorityunlessthereisalegalorprofessionalrightordutytodisclose.(e)ProfessionalBehaviorAprofessionalaccountantshouldcomplywithrelevantlawsandregulationsandshouldavoidanyactionthatdiscreditstheprofession.11ExternalInternalGovernmentalThreegroupsofauditingⅡ.TypesofAuditing12Externalauditingreferstotheevaluationoffinancialstatementspreparedbythemanagementfortheuseofexternalusersincludingstockholder,creditors,bankers,potentialinvestorsandregulatoryagencies,etc.Internalauditingistheindependentevaluationandappraisalfunctionestablishedwithinanorganizationtoassessitsownactivities.Internalauditorsareemployeesofcompanyratherthanindependentoutsiders.Governmentauditing

evaluatesawiderangeoforganizationsandinstitutions:agenciesownedbythegovernmentandtheagenciesthegovernmentisresponsiblefor.13Thepurposeofauditproceduresistoprovidedetailedauditstepstobeperformedduringtheauditfieldworkthatwillachievethespecificauditobjectives.Inconjunctionwiththeriskassessment,auditprocedureswillbedevelopedbytheauditorandapprovedbyauditmanagementpriortoperformanceoftheauditprocedures.Ⅲ.AuditingProcedures14Ⅲ.AuditingProcedures1.EngagementletterItspurposeistosetdownthecontractualrelationshipinwrittenformbetweentheclientandtheaccountingfirm.Issueslikeobjectivesoftheengagement,thescopeoftheaudit,responsibilitiesanddutiesofbothpartiesaresetforthintheletter.2.Riskassessmentandauditplanning.Auditorsshouldunderstandthebusinessofthecompany,theenvironmentinwhichitoperates,includingrelevantindustry,otherexternalfactors,thenature,etc.153.InternalcontroltestingEvaluatetheeffectivenessofinternalcontroltodeterminetheextenttowhichtheycanrelyontheclients’internalcontrol4.SubstantiveproceduresConductcomprehensivetesttocollectsufficientandappropriateevidencesupportingauditconclusion.5.Auditreport16Note:Duringthecourseoftheaudit,conditionsmayarisewhichwarrantrevisingtheauditprocedures,scope,orbudgetedhours.Theauditorshouldevaluatethesituation,maketimelyrecommendationstoauditmanagement,andobtainapprovalbeforeincorporatinganychanges.

17Ⅳ.AuditReportAuditreportreferstothewrittendocumentwhichexpressesCPA’sauditopinionontheclient’sfinancialstatement.18TitleTheAddressee(收件人)TheScopeParagraphTheOpinionParagraphSignature,stampsandaccountingfirm’saddressThedateoftheauditreport19TheScopeParagraphThescopeparagraphoftheauditreportshouldspecifythefollowingmatters:Thenameoftheauditedfinancialstatementsandthedateofeachstatement;Theaccountingresponsibilityandtheauditresponsibility,andThemajorauditproceduresperformed.

20TheOpinionParagraphTheopinionparagraphoftheauditreportshouldspecifythefollowingmatters:WhetherthepreparationofthefinancialstatementscomplieswiththerequirementsofboththeGAAPandotherrelevantfinancialandaccountinglawsandregulations.Whetherthefinancialstatementspresentfairly,inallmaterialaspects,thefinancialpositionoftheauditedcompany,anditsoperatingresultsandcashflowsfortheauditedperiod.Whethertheaccountingtreatmentsareconsistentlyapplied.21Ⅴ.TypesofAuditReportAuditReportStandardreportNon-standardreportAdversereportQualifiedreportUnqualifiedopinionwithexplanatoryparagraphNon-unqualifiedreportDisclaimerreport22UnqualifiedreportThefollowingcriteriashouldbesatisfiedwith:(1)ThefinancialstatementsarefairlypreparedonthebasisofGAAPandotheracceptableaccountingbasesandpolicies.(2)Thestatementscomplywithstatutoryrequirementsandrelevantregulations.(3)theviewpresentedbythefinancialstatementsisconsistentwiththeauditor’sknowledgeoftheauditedcompany.(4)Thereisadequatedisclosureofallmaterialrelevanttothefinancialstatements.23UnqualifiedopinionwithexplanatoryparagraphIfthefinancialstatementshavebeenpreparedfairlybuttherehasbeendoubtononematerialmatter,theauditorwilladdexplanatorylanguagetoit.Anunqualifiedopinionisissuedwhen:(1)Thescopeoftheauditingisrestrictedbytheauditor’sknowledge,thecompany’srecordsorotherreasons.(2)Thereisaninconsistencyintheapplicationofaccountingprinciples.(3)Amatterisputinhighlight.(4)There’sajustifieddeparturefromofficiallyrecognizedaccountingprinciples.(5)There’sanuncertaintyaboutamatterthatcouldhaveamaterialimpactonthefinancialstatements.24QualifiedreportAqualifiedopinionisexpressedwhen:(1)Theauditedcompanyrefusetoadjustthetreatmentofanindividualmaterialaccountingtransaction,ortoadjustthepresentationofanindividualmaterialiteminthefinancialstatementswhichisnotaccordancewithGAAPandotherrelevantfinancialandaccountinglawsandregulation.(2)AuditevidencecannotbeobtainedasrequiredintheIndependentAuditingStandards,duetoasignificantlimitationontheauditscopeoncertainaspects.(3)Theapplicationofindividualmaterialaccountingtreatmentsisnotconsistent.25AdverseopinionAnadverseopinionisexpressedwhen:(1)TheapplicationofaccountingtreatmentsseriouslyviolatestherequirementsofGAAPorotherrelevantfina