财务报表审计中对舞弊的控制.pptx

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1、SAS 99/1141Consideration of Fraud in a Financial Statement Audit财务报表审计中对舞弊的考虑 Statement on Auditing StandardsOverall RequirementAn audit should be planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatements, whether caused by error o

2、r fraud.审计人有责任按照审计准则的规定实施审计工作，获取财务报表在整体上不存在重大错报的合理保证，无论该错报是由于舞弊还是错误导致。An audit requires due professional care, which in turn requires that the auditor exercise professional skepticism.审计人应当以职业怀疑态度计划和实施审计工作。Causes of Misstatements Errors（错误） Fraud（舞弊）Misappropriation of Assets 侵占资产导致的错报 Fraudulent Fi

3、nancial Reporting 对财务信息作出虚假报告导致的错报What is Error? 错误是指导致财务报表错报的非故意行为，主要包括： 为编制财务报表而收集和处理数据时发生失误； 由于疏忽和误解有关事实而作出不恰当的会计估计； 在运用与确认、计量、分类或列报（包括披露，下同）相关的会计政策时发生失误。What is Fraud? 舞弊是指被审计单位的管理层、治理层、员工或第三方使用欺骗手段获取不当或非法利益的故意行为。 舞弊是一个宽泛的法律概念，准则并不要求审计人对舞弊是否已经发生作出法律意义上的判定，只要求关注导致财务报表发生重大错报的舞弊。 Intentional（故意） to

4、 deceive（欺骗） to steal assets（盗窃资产） Defalcation（盗用公款） Fraudulent Financial Reporting（虚假财务报告）Recent Study on Fraud Survey of 121 partners 354 Irregularities 55.4% were management fraud 80.0% were material to the financial statements 44.6 were defalcations Only 35.9% were materialTypes of Management Fr

5、audDisclosures omitted or misleading 20.9% Assets overvalued 57.7% Transactions not recorded 31.1% Revenue or other credits improperly recognized 29.1% Specious accounting judgments 24.5% Expenses recorded incorrectly 21.4% Moral DecayAttendees at the April, 1998 Business Week Forum of Chief Financi

6、al Officers revealed: 67% of CFOs said they had been asked by senior company executives to misrepresent corporate financial results 12% of CFOs admitted they had actually misrepresented financial results55% said they had fought off requests to “cook the books”Honesty studies 1961: 12% 1986: 31% 2002

7、: ? Dishonest modeling who are our heroes. Ethics at Work 76% of employees in business have observed a high level of illegal or unethical conduct at work in the past 12 months 49% of employees in business have observed misconduct that, if revealed, would cause their firms to “significantly lose publ

8、ic trust”KPMG 2000 Organizational Integrity SurveyFinancial Statement Fraud Financial statement fraud causes a decrease in market value of stock of approximately 500 to 1,000 times the amount of the fraud.$7 million fraud$2 billion drop in stock valueLargest Bankruptcy Filings (1980 to Present)Compa

9、nyAssets (Billions)When Filed1. WorldCom$101.9July, 20022. Enron$63.4Dec., 20013. Texaco$35.9April, 19874. Financial Corp of America$33.9Sept., 19885. Global Crossing$25.5Jan., 20026. Adelphia$24.4June, 20027. PG&E$21.5April, 20018. MCorp$20.2March, 19899. Kmart$17.0Jan., 200210. NTL$16.8May, 2002SA

10、S 99 Fraud can never be completely eliminated, steps can be taken toward detecting it in a timely manner. Becoming familiar with the risk factors listed in SAS 99 will place employees in a better position to recognize situations that are associated with the commission of fraudulent acts.Two Types of

11、 Fraud Considered in an Audit Fraudulent financial reporting (“cooking the books”)-examples Falsification of accounting records Omissions of transactions 对财务信息作出虚假报告导致的错报 Misappropriation of assets-examples: Theft of assets Fraudulent expenditures 侵占资产导致的错报Fraudulent financial reporting may be accom

12、plished by: Manipulation, falsification, or alteration of accounting records, supporting documents from which financial statements are prepared 对财务报表所依据的会计记录或相关文件记录的操纵、伪造或篡改；Fraudulent financial reporting may be accomplished by: Misrepresentation in or intentional omission of significant information

13、 on financial statements 对交易、事项或其他重要信息在财务报表中的不真实表达或故意遗漏；Fraudulent financial reporting may be accomplished by: Intentional misapplication of accounting principles relating to amounts, classification, manner of presentation, or disclosure 对与确认、计量、分类或列报有关的会计政策和会计估计的故意误用。Misappropriation of assets: Emb

14、ezzling cash, theft of inventory/assets Causing an entity to pay for goods or services not received 贪污收入款项； 盗取货币资金、实物资产或无形资产； 使被审计单位对虚构的商品或劳务付款； 将被审计单位资产挪为私用。 False or misleading records and documents 侵占资产通常伴随着虚假或误导性的文件记录，其目的是隐瞒资产缺失或未经适当授权使用资产的事实。Three conditions generally are present when fraud occ

15、urs Motive Opportunity Rationalization 对财务信息作出虚假报告的动机主要包括：（一）迎合市场预期或特定监管要求；（二）牟取以财务业绩为基础的私人报酬最大化；（三）偷逃或骗取税款；（四）骗取外部资金；（五）掩盖侵占资产的事实。MotiveOpportunityRationalizationWhat can be done to help control fraud? Clear written policies and procedures Maintain documentation Asset security Internal control syst

16、em Tone at the topIts managements responsibility to: Set the proper tone Create and maintain a culture of honesty and ethical behavior Establish appropriate controls管理层有责任在治理层的监督下建立良好的控制环境，维护有关政策和程序，以保证有序和有效地开展业务活动，包括制定和维护与财务报告可靠性相关的控制，并对可能导致财务报表发生重大错报的风险实施管理。Ethics and Leadership Leadership is the

17、ability to see around corners Leadership is the ability to see the problem before others Leadership is the ability to fix the problem before it becomes a headlineReasonable assurance Internal Controls-help to prevent/detect fraudulent activity Management/employees may have the capability to override

18、 or circumvent controls Collusion 内部控制的固有局限性SAS requires auditor to have “professional skepticism” A questioning attitude and a critical assessment of audit evidence Fraud may be present regardless of the auditors belief about managements honesty and integrity审计人应当在整个审计过程中以职业怀疑态度计划和实施审计工作，充分考虑由于舞弊导致

19、财务报表发生重大错报的可能性，而不应依赖以往审计中对管理层、治理层诚信形成的判断。Professional Skepticism An attitude that includes a questioning mind and a critical assessment of audit evidence The engagement should be conducted recognizing possibility of material misstatement due to fraud An auditor should not be satisfied with less than

20、 persuasive evidenceOverview of the Fraud Audit ProcessBrainstormingObtaining Risk Info.Identifying RisksAssessing RisksResponding to RisksEvaluating EvidenceCommunicatingDocumentingOn-Going Process Throughout the AuditBRAINSTORMING Performed at beginning of Audit All personnel involved. Consist of:

21、 Analytical analysis of accounts Analysis of Internal Control Analysis of Motivation and Opportunity Determine where and how a fraud could take place. Include risk of management override of controls BRAINSTORMING Develop Hypotheses and Rank Order them for likelihood and explanation value. Develop au

22、dit procedures, with skepticism, that addresses the hypotheses. Should continue throughout the audit.Approach to FraudIdentify RisksIdentify Possibility of FraudGenerate HypothesesConduct Audit Assuming Possibility of FraudStaff Discussion由于舞弊导致财务报表重大错报的可能性，重大错报可能发生的领域及方式；在遇到哪些情形时需要考虑存在舞弊的可能性；已了解的可能

23、产生舞弊动机或压力、提供舞弊机会、营造舞弊行为合理化环境的外部和内部因素；已注意到的对被审计单位舞弊的指控；已注意到的管理层或员工在行为或生活方式上出现的异常或无法解释的变化；管理层凌驾于控制之上的可能性；是否有迹象表明管理层操纵利润，以及采取的可能导致舞弊的操纵利润手段；管理层对接触现金或其他易被侵占资产的员工实施监督的情况；为应对舞弊导致财务报表重大错报可能性而选择的审计程序，以及各种审计程序的有效性；如何使拟实施审计程序的性质、时间和范围不易为被审计单位预见。Obtaining Risk Info.Inquiries of management and others about frau

24、d risk and their response to the riskDirect knowledge （results of analytical procedures）Allegations of fraud by othersPrograms and controls established to mitigate the specific risks of fraud identifiedSAS 99 Auditors need to obtain information about the entity to identify the risks of material miss

25、tatement due to fraud. Make inquiries of management and others within the entity to obtain their views about the risks of fraud and how they are addressed.Auditors should inquire of management about: Knowledge of any fraud or suspected fraud Any allegations about fraud Risks of fraud in the entity P

26、rograms and controls that mitigate these risks Monitoring of operation locations and business segments; and any location or segments that might have higher fraud risk If and how management communicates its views on business practices and ethics Any fraud-related reports it has made to the audit comm

27、ittee审计人应当向管理层询问下列事项： 管理层对舞弊导致的财务报表重大错报风险的评估； 管理层对舞弊风险的识别和应对过程； 管理层就其对舞弊风险的识别和应对过程与治理层沟通的情况； 管理层就其经营理念及道德观念与员工沟通的情况。For those with an internal audit function, auditor should inquire appropriate internal audit personnel about: Their views about the risks of fraud And knowledge of fraud or suspected f

28、raud Any fraud-related work they have done The adequacy of managements responses to any fraud-related findings审计人应当询问内部审计人员： 内部审计人员对被审计单位舞弊风险的认识； 内部审计人员在本期是否实施了用以发现舞弊的程序； 管理层对通过内部审计程序发现的舞弊是否采取了适当的应对措施； 内部审计人员是否了解任何舞弊事实、舞弊嫌疑或舞弊指控。Others within the organization the auditor may want to talk to include:

29、 Employees with varying levels of authority Personnel with whom the auditor comes into contact with during the course of the audit Operating personnel not directly involved in the financial reporting process Employees involved in initiating, recording, or processing complex or unusual transactions I

30、n-house legal counsel Others within the organization the auditor may want to talk to include: 不直接参与财务报告过程的业务人员； 负责生成、处理或记录复杂、异常交易的人员及其监督人员； 负责法律事务的人员； 负责道德事务的人员； 负责处理舞弊指控的人员。 在询问时，审计人应当考虑询问不同级别的人员。Why are such inquiries important? Fraud is often uncovered through information received in response to

31、inquiries Employees opportunity to convey information to the auditor that may not have been communicated Auditor has a different perspective within the organizationIdentifying Fraud Risks Professional judgment required Think in terms of incentive/pressures, opportunities, and rationalization Risk at

32、tributes to consider: Type of risk: reporting or misappropriation Significance of the risk could it be material Likelihood of Risk Pervasiveness of risk舞弊风险因素 舞弊风险因素是指审计人在了解被审计单位及其环境时识别的、可能表明存在舞弊动机或压力、机会的事项或情况，以及被审计单位对可能存在的舞弊行为的合理化解释。 注册会计师应当运用职业判断，考虑被审计单位的规模、复杂程度、所有权结构及所处行业等，以确定舞弊风险因素的相关性和重要程度。Asse

33、ssing Fraud Risks Professional Judgment Consider understanding of internal control Evaluation of entitys programs and controls that address fraud risks Assess risks taking into account this evaluation审计人应当了解管理层为防止或发现舞弊而设计、实施的内部控制，以进一步了解舞弊风险因素及管理层对舞弊风险的态度。在运用职业判断评估舞弊导致的重大错报风险时应当考虑： 实施风险评估程序获取的信息，并考虑各

34、类交易、账户余额、列报，以识别舞弊风险； 将识别的风险与认定层次可能发生错报的领域相联系； 识别的风险是否重大； 识别的风险导致财务报表发生重大错报的可能性。Responding to Risks Overall responses- Alter the overall way the audit is conducted More experienced staff More attention to accounting policies Less predictable procedures - 考虑人员的适当分派和督导； - 考虑被审计单位采用的会计政策； - 在选择进一步审计程序的性

35、质、时间和范围时，应当注意使某些程序不为被审计单位预见或事先了解。Responding to Risks Specific responses Consider need to increase evidence by changing the nature, timing and extent of audit procedures 改变拟实施审计程序的性质，以获取更为可靠、相关的审计证据，或获取其他佐证性信息，包括更加重视实地观察或检查，在实施函证程序时改变常规函证内容，询问被审计单位的非财务人员等； 改变实质性程序的时间，包括在期末或接近期末实施实质性程序，或针对本期较早时间发生的交易事

36、项或贯穿于整个本期的交易事项实施测试； 改变审计程序的范围，包括扩大样本规模，采用更详细的数据实施分析程序等。management override of controls On all audits, the auditor should consider the possibility of management override of controls and examine: Adjusting journal entries Accounting estimates Unusual significant transactions管理层凌驾于控制之上的风险审计人针对该特别风险应当实施

37、的审计程序包括： 测试日常会计核算过程中作出的会计分录以及为编制财务报表作出的调整分录是否适当； 复核会计估计是否有失公允，从而可能产生舞弊导致的重大错报； 对于注意到的、超出正常经营过程或基于对被审计单位及其环境的了解显得异常的重大交易，了解其商业理由的合理性。Evaluating Evidence Assess risk of fraud throughout the audit Evaluate analytical procedures performed as substantive tests and at overall review stage Evaluate risk of

38、 fraud near completion of fieldwork Evaluate findings; if evidence signals fraud might exist, consider whether specialists are needed for the audit team Respond to misstatementsCommunicating Whenever “evidence of fraud” is found, it should be brought to the attention of the appropriate level of mana

39、gement .Even if the matter is inconsequential All fraud to an appropriate level of management All management fraud to audit committee All material fraud to management and audit committee Determine if reportable conditions related to internal control have been identified; communicate them to the audi

40、t committeeDocumenting Document all steps related to fraud: Staff discussion Information used to identify risk of fraud Fraud risks identified Assessed risks after considering programs and controls Results of assessment of fraud risk Evaluation of audit evidence Communications requirements If improp

41、er revenue recognition was not considered a risk, why it wasnt？ Good documentation of results is vital.Case Study ReviewWorldCom OBJECTIVE OF FRAUD: Report increased earnings & revenues Hold line costs at 42% (when the rest of the industry was at 50%_WorldCom How They Did it Reduction of Reported Li

42、ne Costs Biggest Expense Analysts Paid a Great Deal of Attention to it. $6.412 Billion improperly reduced costs: Capitalizing line costs - $3.852 Billion Releasing accruals restructuring. All directed by Senior Accounting PersonnelWorldCom Capitalizing ExpensesOversight at TopCapital Recording, Clin

43、ton, MSGeneral LedgerProperty Accounting, TexasResponsible for tracking & approving entriesMCI Washington, DCWorldCom - RevenueOversight at the topList of Accounting OpportunitiesJournal Entries, round figures, 000Real Operating ResultsWorldCom Other Activities Reduced other expenses Selling, G&A De

44、preciation Taxes Took accruals established for other purposes to corporate to release. Improperly allocated costs to tracking stocks (MCI, WorldCom Group) COMMENTS ON WORLDCOM Largest Fraud to Date Methods: Journal entries to reclassify expenses as capital assets. Capitalizing Expenses Swaps line ca

45、pacity Restructuring ReservesTop Ten Better Fraud Detection1.Be Skeptical e.g. Spitzer what would it look like if it were happening2.Understand the Business and Processes.Which ones are susceptible to misstatement.What are the economic value-added services.3.Compare company with industry.Why would t

46、his company do better?4.Compare company with economy.Top Ten Better Fraud Detection5.Analytical Results what accounts are different, why? More analysis of unusual transactions on a continuing basis. Better analysis of financial statements.6.Analysis of Internal ControlTone at the TopWeaknesses poten

47、tial impact on fraud.Brainstorm potential effects7.Identify Risky Accounts EstimatesJournal Entries, etc.Top Ten Better Fraud Detection8.Simplify Complex AccountingMake journal entries understand all sidesGraphically analyze what is going on.9.Take Statistical SamplesMore representative.Demand evide

48、nce immediately.Trust the results.High Risk = Low DRInclude key asset areas.Top Ten Better Fraud Detection10. Always be skeptical of revenue:Know the common fraudsLook for quarterly spikesAnalyze effects on Receivables.11. Use Computerized Techniques to help in Data AnalysisBenefords Law analysis of digitsIdentify anomalies in dataStatistically evaluate results.