CH01ProfessionalPractice(审计学,英文版).pptx

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1、CHAPTER 1 Professional Practice1.User demand for reliable information2.Brief history of auditing3.DEFINITIONS OF AUDITING4.Other kinds of audits and auditors5.The accounting profession1Checkpoints1.What is the difference between a client and auditee?2.Define and explain auditing.3.What is the essenc

2、e of the risk-reduction of auditing?4.Define an“assurance engagement”.5.Other kinds of audits and auditors.21.User demand for reliable information1.1 ACCOUNTING(1)It is the process of recording,classifying,and summarizing into financial statements a companys transactions for the users.(2)The conditi

3、ons affect demand:A.complexity:numerous and complicated B.remoteness:distance and time,expertiseC.consequencesFinancial decision31.2 AUDITING(1)Potential conflict of interestA.The user need reliable informationB.The preparers might benefit by giving false,misleading,and overly optimistic information

4、.(2)Potential information risk:false,misleading,overly optimistic4ASSURANCE(3)Lend some credibility to financial information.(4)“Lending of credibility”is providing assurance.external auditing of Financial Statements is an assurance engagement.5委托人委托人 Client审计人审计人Auditor经理人经理人Auditee委托经营受托经营并报告业绩受托审

5、计并报告审计委托审计独立审计接受审计61.3 Distinguish(1)Auditing does not include the function of financial report production.(2)The function is performed by a companys accountants under the direction of its management.(3)Auditors obtain evidence to determine whether the information in the FS is reliable71.4 Client an

6、d Auditee(1)They usually are the same economic entity.(2)Occasionally they are different.(3)(4)banker:Client(5)company:Auditee Financial statement8委托人委托人 Client审计人审计人Auditor经理人经理人Auditee委托经营受托经营并报告业绩受托审计并报告审计委托审计独立审计接受审计9审计关系模型的异化形式 被审计人被审计人 审计人审计人 利益共同体 请求 合谋 操纵审 计意见 接受 合谋 威 胁 模型外其他因素 压力 审计委托人审计委托人

7、 10审计关系模型的异化形式 丧失独立性，被操纵 操纵审计意见 审计人审计人 买方威胁 审计委托人审计委托人 受托经营管理 被审计人被审计人 受托经营管理 合作合作谋取谋取私利私利 利益共同体 模型外其他因素 压力 11新的委托者加入的审计关系模型 所有者 企业管理者 委托经营管理 受托经营管理 被审计人被审计人 审计委托人审计委托人(新的独立委托者)审计人审计人 雇用或监督 对其负责 向其汇报 122.Brief history of auditing(1)The first recorded auditors werethe spies of King Darius of ancient

8、Persia(522-486 B.C)（古 波斯大流士）中国中国.周西周西(1100-771B.C).宰夫宰夫13(2)AUDIT,AuditorAuditors acted as“the Kings ears”The word AUDITOR comes from the Latin word“AUDIT:to hear”Listened to the oral reports 听审14(3)Modern auditing1844,British Parliament passed the Joint Stock Companies Act,which for the first time

9、required that corporate report to shareholders via an audited financial statement-the balance sheet.No independent auditor15(4)An independent auditor1900,Companies Actrequired an independent auditor16(5)The first public accounts organization1854Society of Accountants in Edinburgh17(6)Audited income

10、statementsA.Stock market crash in 1929,Great Depression in 1930.Misleading financial reportingB.1933,the U.S.Securities Acts 1934,Securities and Exchange Commission C.Audited income statements,balance sheets18(7)GAASA.1941,Mckesson and Robbins fraud case为取得贷款，伪造存货$1000万，应收帐款$900万。Price Waterhouse予以证

11、实。贷款方朱利安汤普逊公司投诉，法院确认为公司欺诈行为。会计公司不负法律责任，但仍退回$40万审计费。19(7)GAASB.SEC recommended references to “generally accepted audit standards”(GAAS)in the auditors reportC.1948,American Institute of Certified Public Accountants(AICPA)20(8)中国1982年,中华人民共和国宪法1983年9月15日,国家审计署正式成立.1980年12月23,财政部关于成立会计顾问处的暂行规定1986年,中华人

12、民共和国注册会计师条例1995年，第一批独立审计准则，1-7号1996年，第二批独立审计准则，8-15号1999年，第三批独立审计准则，16-24号2001、2002年，25，26-27号213.Definitions of Auditing3.1Report of Committee on Basic Auditing Concepts Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and

13、 events to ascertain the degree of correspondence between the assertions and established criteria and communicating the results to interested users.22Assertions P8 E1-1F.S cpaObtains and EvaluatesEvidenceGAASGAAPAudit reportOthercommunicationsAscertains degree of correspondence23Management assertion

14、s5 very general assertionsexistence or occurrencecompletenessrights and obligationsvaluation or allocationspresentation and disclosureP119,exhibit 4-3 Compliance assertion24定义要点（1）a systematic process（2）objectively（3）obtaining and evaluating evidence（4）assertions about economic actions and events（5）

15、ascertain the degree of correspondence（6）communicating the results.25定义（1）审计是客观地收集和评价审计是客观地收集和评价关于经济活动和事项认定关于经济活动和事项认定的证据，以确认认定与既的证据，以确认认定与既定标准的符合程度，并将定标准的符合程度，并将结果传递给有利益关系的结果传递给有利益关系的使用者的系统化过程。使用者的系统化过程。26定义（2）审计是为了确认认定与既审计是为了确认认定与既定标准的符合程度并将结定标准的符合程度并将结果传递给有利益关系的使果传递给有利益关系的使用者，而客观地收集和评用者，而客观地收集和评价

16、关于经济活动和事项申价关于经济活动和事项申明的证据的系统化过程。明的证据的系统化过程。271989年我国审计基本理论研讨会的审计定义审计是由专职机构和人员，依法对被审单位的财政、财务收支及其有关经济活动的真实性、合法性和效益性进行审查，评价经济责任，以维护财经法纪，改善经营管理，提高经济效益，促进宏观调控的独立性经济监督活动。281995年全国审计定义研讨会的简明审计定义审计是独立检查会计账目，审计是独立检查会计账目，监督财政、财务收支真实、监督财政、财务收支真实、合法、效益的行为。合法、效益的行为。293.2 Audit objective and the auditorreportThe

17、objective of financial statements is to express an opinion whether the financial statements present fairly,in all material respects,the financial position,results of operations and changes in financial position in accordance with generally accepted accounting principles,or in special circumstance an

18、other appropriate disclosed basis of accounting.30AUDITORS REPORTI have audited the balance sheet of _ as at _,20_,and the statements of income,retained earnings and cash flow for the year then ended.These financial statements are the responsibility of the companys management.My responsibility is to

19、 express an opinion on the financial statements based on my audit.I conducted my audit in accordance with generally accepted auditing standards.Those standards require that I plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement.A

20、n audit includes examining,on a test basis,evidence supporting the amounts and disclosures in the financial statements.An audit also includes assessing the accounting principles used and significant estimates made by management,as well as evaluating the overall financial statement presentation.In my

21、 opinion,these financial statements present fairly in all material respects the financial position of the company as at _,20_,and the results of its operations and the cash flows for the year then ended in accordance with generally accepted accounting principles.313.3“risk reduction”definition(1)bus

22、iness risk(2)information risk:false and misleading(3)Auditor perform the assurance function and reduce the information risk.Information hypothesis32Monitoring hypothesisAppendix 1B(1)Agency theory predicts that utility-maximizing agents,if unchecked,will consume more resources than optimal.(2)COST(3

23、)Owners Pay managers more with monitoring33Insurance hypothesisBusiness failureINSURANCEOn the basis of audited financial statements LossesRecourse against the auditor.344.Other kinds of audits and auditorsIndependent auditorexternal auditorchartered accountant(CA)certified general accountant(CGA)pu

24、blic accountant(PA)financial auditingoperational auditingmanagement auditing35Other kinds of audits and auditorsPerformance auditingcompliance auditing3E and 4E auditingvalue-for-money auditingcomprehensive auditinginternal auditinggovernmental auditing36分类标准与类别(1)public accounting firmspublic accou

25、ntant(PA)chartered accountant(CA)certified general accountant(CGA)certified public accountant(CPA)Independent auditorexternal auditor 37(2)隶属关系Internal auditingexternal auditing A.Governmental auditing B.public accountant(PA)(1)chartered accountant(CA)(2)certified General accountant(CGA)(3)certified

26、 public accountant(CPA)38(3)审计对象(1)Financial auditing Financial statements auditing(2)operational auditing management auditing (performance auditing)(3)comprehensive auditing 39operational auditingalso known as performance auditing and management auditingStudy of business operations for the purpose

27、of making recommendations about the economic and efficient use of resources,effective achievement of business objectives,and compliance with company policies.the goal is to help managers discharge their management responsibilities and improve profitability.40(4)审计目标（1）compliance auditing（2）Performan

28、ce auditing value-for-money auditing 3E and 4E auditing Economy Efficiency Effectiveness Equality 41(5)审计范围comprehensive auditingsingle auditingABC42(6)效益审计形式Performance auditing (governmental)value-for-money auditing3E and 4E auditing(Economy,Efficiency,Effectiveness,Equality)management auditing (i

29、nternal)operational auditingmanagement consulting (firms)43（7）Independent auditorAuditingAttestTaxationConsulting (accounting,management)44（8）Internal auditingFinancial auditingoperational auditingmanagement auditing Performance auditing control system3E or 4E(Economy,Efficiency,Effectiveness,Equali

30、ty)45Organizational arrangement(IA)NO OTHER RESPONSIBILITIES THAN TO AUDIT Report to a very high level in the organization,such as a financial vice president and audit committee of the board of directors 469、Governmental auditingOffice of the Auditor General of CANADA(OAG)Accounting,auditing and inv

31、estigating3E and 4E auditing(Economy,Efficiency,Effectiveness,Equality)Value-for-money auditingcomprehensive auditing 47Parliament审计长公署是众议院系列机构审计长直接向议会负责不受行政干预，独立行使职权立法型48补充：政府审计组织体系（1）立法型属于立法机构，如美、英、加、西、奥（2）司法型属于司法体系，如法、意、希、巴西（3）行政型，如中国、泰国（4）独立型，如日、德、印度4910、Public accounting(1)The accounting profes

32、sionCanadian Institute of Chartered Accountants(CICA)Certified General Accountants Association of CANADA (CGAAC)Society of Management Accountants of CANADA(SMAC)Institute of Internal Auditors(IIA)50CGAAuditing and public accounting servicesfor even the largest companies.51Public Accounting firmsOrga

33、nization,P15Services Assurance Taxation Consulting52自学Appendix 1AOverview of U.S.And international Auditing Appendix 1BAlternative Theories of the Role of Auditing in SocietyAppendix 1CHow to become A PA53Homework(1)(1)P4,1.2,P10,1.7/1.8(2)P13,1.10/1.11/1.12/1.13(3)P19-20,1.17-25(4)P21,1.26-27,30 1.32-33-3454GOODBYE55