审计学：一种整合方法_第12版_英文版Cha.ppt

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1、2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-1Audit Responsibilitiesand ObjectivesChapter 62008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,A

2、rens/Beasley/Elder Arens/Beasley/Elder6-6-2 2Learning Objective 1Explain the objective ofconducting an audit offinancial statements andan audit of internal controls.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Bea

3、sley/Elder6-6-3 3Objective of Conducting an Audit of Financial StatementsThe 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

4、 GAAP.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-4 4Steps to Develop Audit Objectives1.Understand objectives andresponsibilities for the audit.2.Divide financial statements into cycles.3.Know ma

5、nagement assertions aboutaccounts.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-5 5Steps to Develop Audit Objectives4.Know general audit objectives forclasses of transactions and accounts.5.Know sp

6、ecific audit objectives forclasses of transactions and accounts.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-6 6Learning Objective 2Distinguish managementsresponsibility for the financialstatement

7、s and internal controlfrom the auditors responsibilityfor verifying the financialstatements and effectivenessof internal control.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-7 7 Managements Respon

8、sibilitiesManagement 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

9、 SEC.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-8 8 Managements ResponsibilitiesThe Sarbanes-Oxley Act provides for criminalpenalties for anyone who knowingly falselycertifies the statements.200

10、8 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-9 9Learning Objective 3Explain the auditorsresponsibility for discoveringmaterial misstatements.2008 Prentice Hall Business Publishing,2008 Prentice Hall

11、Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1010Auditors ResponsibilitiesMaterial versus immaterial misstatements Reasonable assurance Errors versus fraud Professional skepticism Fraud resulting from fraudulent financialreporting versus misappropriation

12、 of assets2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1111Auditors Responsibilities for Discovering Illegal Acts Direct-effect illegal acts Indirect-effect illegal acts Evidence accumulation when

13、 there is no reasonto believe indirect-effect illegal act exists2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1212Auditors Responsibilities for Discovering Illegal Acts Evidence accumulation and ot

14、her actionswhen there is reason to believe direct-orindirect-effect illegal acts may exist Actions when the auditor knows of an illegal act2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1313Learning

15、 Objective 4Classify transactions and accountbalances into financial statementcycles and identify benefits of acycle approach to segmentingthe audit.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-14

16、14Financial Statements CyclesAudits are performed by dividing the financialstatements into smaller segments or components.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1515Transaction Flow ExampleL

17、edgers,Trial Balance,and FinancialStatementsGeneral ledgerand subsidiaryrecordsGeneral ledgertrial balanceFinancialstatementsAcquisitionof goodsand servicesSalesCashreceiptsTransactionsCash receiptsjournalSalesjournalAcquisitionsjournalJournals2008 Prentice Hall Business Publishing,2008 Prentice Hal

18、l Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1616Transaction Flow ExampleAllocationandadjustmentsCashdisbursementsPayrollservices anddisbursementsLedgers,Trial Balance,and FinancialStatementsGeneral ledgerand subsidiaryrecordsGeneral ledgertrial balanc

19、eFinancialstatementsTransactionsPayrolljournalCashdisbursementsjournalGeneraljournalJournals2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1717Relationships Among Transaction CyclesGeneralcashCapita

20、l acquisitionand repayment cycleSales andcollectioncycleAcquisitionand paymentcyclePayroll andpersonnelcycleInventory andwarehousingcycle2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-1818Learning O

21、bjective 5Describe why the auditor obtainsa combination of assurance byauditing classes of transactionsand ending balances in accounts,including presentation anddisclosure.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Ar

22、ens/Beasley/Elder6-6-1919Balance and Transactions Affecting Balances ExampleBeginning balanceSales$17,521$144,328$137,087Cash receipts$1,242Sales returnsand allowancesCharge-off ofuncollectibleaccountsEnding balance$20,197$3,323Accounts Receivable(in thousands)2008 Prentice Hall Business Publishing,

23、2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2020Learning Objective 6Distinguish among the threecategories of managementassertions about financialinformation.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing

24、,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2121Management Assertions1.Assertions about classes of transactions andevents for the period under audit2.Assertions about account balances a period end3.Assertions about presentation and disclosure2008 Prentice Hall Business Pu

25、blishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2222Management Assertions forEach Category of AssertionsAssertions About Classes Assertions About Classes of Transactions and Eventsof Transactions and EventsAssertions About Assert

26、ions About Account BalancesAccount BalancesAssertions About Assertions About Presentation and DisclosurePresentation and DisclosureOccurrenceExistenceOccurrence and rightsand obligationsCompletenessCompletenessCompletenessAccuracyValuation andallocationAccuracy andvaluationClassificationClassificati

27、on andunderstandabilityCutoffRights andobligations2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2323Learning Objective 7Link the six general transaction-related audit objectives tomanagement assert

28、ionsfor classes of transaction.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2424OccurrenceRecorded transactionsexistCompletenessExisting transactionsare recordedAccuracyRecorded transactionsare st

29、ated at thecorrect amountsGeneral Transactions-related Audit Objectives2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2525ClassificationTransactions are properlyclassified.TimingTransactions are rec

30、ordedon the correct dates.Posting andsummarizationTransactions are includedin the master files andare correctly summarized.General Transactions-related Audit Objectives2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/

31、Beasley/Elder6-6-2626Management Assertions andTransaction-related Audit ObjectivesManagement AssertionsManagement AssertionsAbout Classes ofAbout Classes ofTransactions and EventsTransactions and EventsGeneral Transaction-General Transaction-related Auditrelated AuditObjectivesObjectivesSpecific Sal

32、es Transaction-Specific Sales Transaction-related Audit Objectivesrelated Audit ObjectivesOccurrenceOccurrenceRecorded sales are forshipments made tononfictitious customersCompletenessCompletenessExisting salestransactions are recordedAccuracyAccuracyRecorded sales are forthe amount of goodsshipped

33、and are correctlybilled and recordedHillsburg Hardware Company:Hillsburg Hardware Company:As Applied to Sales TransactionsAs Applied to Sales Transactions2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6

34、-6-2727Management Assertions andTransaction-related Audit ObjectivesAccuracyPosting andsummarizationSales transactions areproperly included in themaster file and arecorrectly summarizedClassificationClassificationSales transactions areproperly classifiedCutoffTimingSales transactions arerecorded on

35、the correctdates.Management AssertionsManagement AssertionsAbout Classes ofAbout Classes ofTransactions and EventsTransactions and EventsGeneral Transaction-General Transaction-related Auditrelated AuditObjectivesObjectivesSpecific Sales Transaction-Specific Sales Transaction-related Audit Objective

36、srelated Audit ObjectivesHillsburg Hardware Company:Hillsburg Hardware Company:As Applied to Sales TransactionsAs Applied to Sales Transactions2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2828Lear

37、ning Objective 8Link the eight general balance-related audit objectives tomanagement assertionsfor account balances.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-2929ExistenceAmounts included exist

38、CompletenessExisting amounts areincludedAccuracyAmounts included arestated at the correctamountsGeneral Balance-relatedAudit Objectives2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-3030Classificati

39、onAmounts are properlyclassifiedCutoffTransactions are recordedin the proper periodDetail tie-inAccount balances agreewith master file amounts,and with the general ledgerGeneral Balance-relatedAudit Objectives2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e

40、,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-3131RealizablevalueAssets are included atestimated realizable valueRights andobligationsAssets must be ownedGeneral Balance-relatedAudit Objectives2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Aud

41、iting 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-3232Management Assertions andTransaction-related Audit ObjectivesManagement AssertionsManagement AssertionsAbout Account BalancesAbout Account BalancesGeneral Balance-General Balance-related Auditrelated AuditObjectivesObjectivesSpecific Balance-

42、related AuditSpecific Balance-related AuditObjectives Applied to InventoryObjectives Applied to InventoryExistenceExistenceAll recorded inventory existsat the balance sheet dateCompletenessCompletenessAll existing inventory hasbeen counted and includedin the inventory summaryHillsburg Hardware Compa

43、ny:Hillsburg Hardware Company:As Applied to InventoryAs Applied to Inventory2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-3333Management Assertions andTransaction-related Audit ObjectivesManagement

44、 AssertionsManagement AssertionsAbout Account BalancesAbout Account BalancesGeneral Balance-General Balance-related Auditrelated AuditObjectivesObjectivesValuation andallocationAccuracyInventory quantities on the clients perpetual records agree with items physically on handPrices used to value inven

45、tories are materially correctExtensions of price times quantity are correct and details are correctly addedHillsburg Hardware Company:Hillsburg Hardware Company:As Applied to InventoryAs Applied to InventorySpecific Balance-related AuditSpecific Balance-related AuditObjectives Applied to InventoryOb

46、jectives Applied to Inventory2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-3434Management Assertions andTransaction-related Audit ObjectivesManagement AssertionsManagement AssertionsAbout Account B

47、alancesAbout Account BalancesGeneral Balance-General Balance-related Auditrelated AuditObjectivesObjectivesValuation andallocationClassificationCutoffInventory items are properly classified as to raw materials,work in process,and finished goodsPurchase cutoff at year end is properSales cutoff at yea

48、r end is properHillsburg Hardware Company:Hillsburg Hardware Company:As Applied to InventoryAs Applied to InventorySpecific Balance-related AuditSpecific Balance-related AuditObjectives Applied to InventoryObjectives Applied to Inventory2008 Prentice Hall Business Publishing,2008 Prentice Hall Busin

49、ess Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder6-6-3535Management Assertions andTransaction-related Audit ObjectivesManagement AssertionsManagement AssertionsAbout Account BalancesAbout Account BalancesGeneral Balance-General Balance-related Auditrelated AuditObjec

50、tivesObjectivesValuation andallocationDetail tie-inRealizablevalueTotal of inventory items agrees with general ledgerInventories have been written down where net realizable value is impaired Hillsburg Hardware Company:Hillsburg Hardware Company:As Applied to InventoryAs Applied to InventorySpecific