如何成为合格的审计咨询师幻灯片.ppt

如何成如何成为合格的合格的审计咨咨询师第1页，共43页，编辑于2022年，星期五Learning Objective 1Discuss why adequate auditplanning is essential.第2页，共43页，编辑于2022年，星期五PlanningThe work is to be adequately planned,andassistants,if any,are to be properly supervised.Acceptable audit riskInherent risk第3页，共43页，编辑于2022年，星期五Planning an Audit andDesigning an ApproachAccept client andperform initialaudit planningUnderstand theclients businessand industryAssess clientbusiness riskPerform preliminaryanalytical procedures第4页，共43页，编辑于2022年，星期五Planning an Audit andDesigning an ApproachSet materiality,andassess acceptable auditrisk and inherent riskDevelop overallaudit plan andaudit programUnderstand internalcontrol and assesscontrol risk第5页，共43页，编辑于2022年，星期五Learning Objective 2Make client acceptancedecisions and performinitial audit planning.第6页，共43页，编辑于2022年，星期五Initial Audit PlanningClient acceptance and continuationIdentify clients reasons for audit.Obtain an understanding with the client.Select staff for the engagement.第7页，共43页，编辑于2022年，星期五Learning Objective 3Gain an understanding of theclients business and industry.第8页，共43页，编辑于2022年，星期五Understanding of the Clients Business and IndustryWhat are some factors that have increasedthe importance of understanding theclients business and industry?GlobaloperationsInformationtechnologyHumancapital第9页，共43页，编辑于2022年，星期五Understanding of the Clients Business and IndustryUnderstand Clients Business and Industry Industry and External EnvironmentBusiness Operations and ProcessesManagement and GovernanceObjectives and StrategiesMeasurement and Performance第10页，共43页，编辑于2022年，星期五Industry and External EnvironmentWhat are some reasons for obtaining an understanding of the clients industry and external environment?Risks associated with specific industriesInherent risks common to all clients in certain industriesUnique accounting requirements第11页，共43页，编辑于2022年，星期五Business Operationsand ProcessesFactors the auditor should understand:major sources of revenue sources of revenue key customers and suppliers sources of financing information about related parties ability to obtain financing第12页，共43页，编辑于2022年，星期五Management and GovernanceManagement establishes the strategies andprocesses followed by the clients business.Governance includes the clients organizationalstructure,as well as the activities of the boardof directors and the audit committee.Corporate charter and bylawsMinutes of meetings第13页，共43页，编辑于2022年，星期五Client Objectivesand StrategiesStrategies are approaches followed by theentity to achieve organizational objectives.Auditors should understand client objectives.Effectivenessand efficiencyof operationsFinancialreportingreliabilityCompliancewith laws andregulations第14页，共43页，编辑于2022年，星期五Measurement and PerformanceThe clients performance measurement systemincludes key performance indicators.Examples:Performance measurement includes ratio analysisand benchmarking against key competitors.market share sales per employee unit sales growth Web site visitors same-store sales sales/square foot第15页，共43页，编辑于2022年，星期五Learning Objective 4Assess client business risk.第16页，共43页，编辑于2022年，星期五Assess Client Business RiskClient business risk is the risk that theclient will fail to achieve its objectives.What is the auditors primary concern?material misstatement of the financialstatements due to client business risk第17页，共43页，编辑于2022年，星期五The Clients Business,Risk,andAuditors Risk AssessmentIndustry and External EnvironmentBusiness Operations and ProcessesManagement and GovernanceObjectives and StrategiesMeasurement and PerformanceUnderstand ClientsBusiness and IndustryAssess ClientBusiness RiskAssess Risk ofMaterial Misstatements第18页，共43页，编辑于2022年，星期五Learning Objective 5Perform preliminaryanalytical procedures.第19页，共43页，编辑于2022年，星期五Preliminary Analytical ProceduresComparison of client ratios to industryor competitor benchmarks provides anindication of the companys performance.Analytical procedures are also an importantpart of testing throughout the audit.第20页，共43页，编辑于2022年，星期五Examples of PlanningAnalytical ProceduresLiquidity Activity RatioInventory turnover3.465.20Ability to Meet Long-Term ObligationsDebt to equity1.732.51ProfitabilityReturn on assets0.090.09ClientIndustryShort-Term Debt-Paying AbilityCurrent ratio3.865.20Selected Ratios第21页，共43页，编辑于2022年，星期五Key Parts of PlanningAccept Client and PerformInitial PlanningNew clientacceptance andcontinuanceObtain anunderstandingwith clientIdentify clientsreasons forthe auditStaff theengagement第22页，共43页，编辑于2022年，星期五Key Parts of PlanningUnderstand the ClientsBusiness and IndustryUnderstandclients industryand externalenvironment Understandclients operations,strategies,andperformance system第23页，共43页，编辑于2022年，星期五Key Parts of PlanningAssess ClientBusiness RiskEvaluate managementbusiness controlsaffecting business riskAssess clientbusiness riskAssess riskof materialmisstatements第24页，共43页，编辑于2022年，星期五Key Parts of PlanningPerform PreliminaryAnalytical Procedures第25页，共43页，编辑于2022年，星期五Summary of the Purposesof Auditing PlanningA major purpose is to gain an understanding of the clients business and industry.第26页，共43页，编辑于2022年，星期五Learning Objective 6State the purposes of analyticalprocedures and the timingof each purpose.第27页，共43页，编辑于2022年，星期五Analytical ProceduresAnalytical procedures use comparisons andrelationships to assess whether accountbalances or other data appear reasonable.SAS 56 emphasizes the expectationsdeveloped by the auditor.第28页，共43页，编辑于2022年，星期五Timing and Purpose ofAnalytical Procedures(Required)Planning PhasePurposeUnderstand clientsindustry and businessPrimary purposeAssess going concernSecondary purposeIndicate possible misstatements(attention directing)Primary purposeReduce detailed testsSecondary purpose第29页，共43页，编辑于2022年，星期五Timing and Purpose ofAnalytical ProceduresTestingPhasePurposeUnderstand clientsindustry and businessAssess going concernIndicate possible misstatements(attention directing)Secondary purposeReduce detailed testsPrimary purpose第30页，共43页，编辑于2022年，星期五Timing and Purpose ofAnalytical Procedures(Required)Completion PhasePurposeUnderstand clientsindustry and businessAssess going concernSecondary purposeIndicate possible misstatements(attention directing)Primary purposeReduce detailed tests第31页，共43页，编辑于2022年，星期五Learning Objective 7Select the most appropriateanalytical procedure fromamong the five major types.第32页，共43页，编辑于2022年，星期五Five Major Types ofAnalytical Procedures1.Compare client and industry data.2.Compare client data with similar prior-period data.3.Compare client data with client-determined expected results.4.Compare client data with auditor-determined expected results.5.Compare client data with expected results,using nonfinancial data.第33页，共43页，编辑于2022年，星期五Compare Clientand Industry Data第34页，共43页，编辑于2022年，星期五Compare Client Data WithSimilar Prior-period Data2002 2001(000,000)%of (000,000)%of PreliminaryNet Sales Audited Net SalesNet sales 143100131100Cost of goods sold103 72 95 72Gross profit 40 28 36 28S&A 32 22 30 23Other 4 3 3 3Net income 4 3 3 2第35页，共43页，编辑于2022年，星期五Learning Objective 8Compute commonfinancial ratios.第36页，共43页，编辑于2022年，星期五Common Financial RatiosShort-term debt-paying abilityLiquidity activity ratiosAbility to meet long-term debt obligationsProfitability ratios第37页，共43页，编辑于2022年，星期五Short-termDebt-paying Ability第38页，共43页，编辑于2022年，星期五Liquidity Activity RatiosAccounts receivable turnover:Net sales Average gross receivables Days to collect receivables:365 days Accounts receivable turnoverInventory turnover:Cost of goods sold Average inventory第39页，共43页，编辑于2022年，星期五Liquidity Activity RatiosDays to sell inventory:365 days inventory turnover第40页，共43页，编辑于2022年，星期五Ability to Meet Long-termDebt ObligationDebt to equity:Total liabilities Total equityTimes interest earned:Operating income Interest expense第41页，共43页，编辑于2022年，星期五Summary of Analytical ProceduresThey involve the computation of ratiosand other comparisons of recordedamounts to auditor expectations.They are used in planning to understand the clients business and industry.They are used throughout the audit to identifypossible misstatements,reduce detailed tests,and to assess going-concern issues.第42页，共43页，编辑于2022年，星期五End of Chapter 7第43页，共43页，编辑于2022年，星期五