審計學(xué)一種整合方法第英文ChapterPPT教案

1、審計學(xué)一種整合方法第英文審計學(xué)一種整合方法第英文Chapter第1頁/共42頁The objective of the ordinary audit of financialstatements is the expression of an opinion ofthe fairness with which they present fairly, inall respects, financial position, result ofoperations, and its cash flows inconformity with GAAP.第2頁/共42頁1.Understand obj

2、ectives andresponsibilities for the audit.2.Divide financial statements into cycles.3.Know managementassertions aboutaccounts.第3頁/共42頁4.Know general audit objectives forclasses of transactions and accounts.5.Know specific audit objectives forclasses of transactions and accounts.第4頁/共42頁第5頁/共42頁Manag

3、ement is responsible for the financialstatements and for internal control.The Sarbanes-Oxley Act increases managementsresponsibility for the financial statements.It requires the CEO and the CFO of publiccompanies to certify the quarterly and annualfinancial statements submitted to the SEC.第6頁/共42頁Th

4、e Sarbanes-Oxley Act provides for criminalpenalties for anyone who knowingly falselycertifies the statements.第7頁/共42頁第8頁/共42頁Material versus immaterial misstatements Reasonable assurance Errors versus fraud Professional skepticism Fraud resulting from fraudulent financialreporting versus misappropri

5、ation of assets第9頁/共42頁 Direct-effect illegal acts Indirect-effect illegal acts Evidence accumulation when there is no reasonto believe indirect-effect illegal act exists第10頁/共42頁 Evidence accumulation and other actionswhen there is reason to believe direct- orindirect-effect illegal acts may exist

6、Actions when the auditor knows of an illegal act第11頁/共42頁第12頁/共42頁Audits are performed by dividing the financialstatements into smaller segments or components.第13頁/共42頁Ledgers,Trial Balance,and FinancialStatementsGeneral ledgerand subsidiaryrecordsGeneral ledgertrial balanceFinancialstatementsAcquis

7、itionof goodsand servicesSalesCashreceiptsTransactionsCash receiptsjournalSalesjournalAcquisitionsjournalJournals第14頁/共42頁AllocationandadjustmentsCashdisbursementsPayrollservices anddisbursementsLedgers,Trial Balance,and FinancialStatementsGeneral ledgerand subsidiaryrecordsGeneral ledgertrial balan

8、ceFinancialstatementsTransactionsPayrolljournalCashdisbursementsjournalGeneraljournalJournals第15頁/共42頁GeneralcashCapital acquisitionand repayment cycleSales andcollectioncycleAcquisitionand paymentcyclePayroll andpersonnelcycleInventory andwarehousingcycle第16頁/共42頁第17頁/共42頁Beginning balanceSales$ 17

9、,521$144,328$137,087Cash receipts$ 1,242Sales returnsand allowancesCharge-off ofuncollectibleaccountsEnding balance$ 20,197$ 3,323Accounts Receivable (in thousands)第18頁/共42頁第19頁/共42頁1.Assertions about classes of transactions andevents for the period under audit2. Assertions about account balances a

10、period end3. Assertions about presentation and disclosure第20頁/共42頁OccurrenceExistenceOccurrence and rightsand obligationsCompletenessCompletenessCompletenessAccuracyValuation andallocationAccuracy andvaluationClassificationClassification andunderstandabilityCutoffRights andobligations第21頁/共42頁第22頁/共

11、42頁OccurrenceRecorded transactionsexistCompletenessExisting transactionsare recordedAccuracyRecorded transactionsare stated at thecorrect amounts第23頁/共42頁ClassificationTransactions are properlyclassified.TimingTransactions are recordedon the correct dates.Posting andsummarizationTransactions are inc

12、ludedin the master files andare correctly summarized.第24頁/共42頁OccurrenceOccurrenceRecorded sales are forshipments made tononfictitious customersCompletenessCompletenessExisting salestransactions are recordedAccuracyAccuracyRecorded sales are forthe amount of goodsshipped and are correctlybilled and

13、recorded第25頁/共42頁AccuracyPosting andsummarizationSales transactions areproperly included in themaster file and arecorrectly summarizedClassificationClassificationSales transactions areproperly classifiedCutoffTimingSales transactions arerecorded on the correctdates.第26頁/共42頁第27頁/共42頁ExistenceAmounts

14、 included existCompletenessExisting amounts areincludedAccuracyAmounts included arestated at the correctamounts第28頁/共42頁ClassificationAmounts are properlyclassifiedCutoffTransactions are recordedin the proper periodDetail tie-inAccount balances agreewith master file amounts,and with the general ledg

15、er第29頁/共42頁RealizablevalueAssets are included atestimated realizable valueRights andobligationsAssets must be owned第30頁/共42頁ExistenceExistenceAll recorded inventory existsat the balance sheet dateCompletenessCompletenessAll existing inventory hasbeen counted and includedin the inventory summary第31頁/

16、共42頁Valuation andallocationAccuracyInventory quantities on the clients perpetual records agree with items physically on handPrices used to value inventories are materially correctExtensions of price times quantity are correct and details are correctly added第32頁/共42頁Valuation andallocationClassificat

17、ionCutoffInventory items are properly classified as to raw materials, work in process, and finished goodsPurchase cutoff at year end is properSales cutoff at year end is proper第33頁/共42頁Valuation andallocationDetail tie-inRealizablevalueTotal of inventory items agrees with general ledgerInventories h

18、ave been written down where net realizable value is impaired Rights and obligations Rights andobligationsThe company has title to all inventory items listedInventories are not pledged as collateral第34頁/共42頁第35頁/共42頁Occurrenceand rights andobligationsOccurrenceand rights andobligationsNotes payable a

19、s described in thefootnotes exist and areobligations of the companyCompletenessCompletenessAll required disclosures relatedto notes payable are included inthe financial statement footnotes第36頁/共42頁Valuation andallocationValuation andallocationFootnote disclosures related tonotes payable are accurate.ClassificationandunderstandabilityC