Overall Audit Plan and Audit Program(英文版)(ppt 37页).pptx

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1、10-12003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyOverall Audit Planand Audit ProgramChapter 1010-22003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyLearning Objective 1Use the five types of audit teststo determine whether fin

2、ancialstatements are fairly stated.10-32003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyTypes of TestsProcedures to obtain anunderstanding of internal controlTests of controlSubstantive tests of transactionsAnalytical proceduresTests of details of balances10-42003

3、 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyTypes of Audit Tests andthe Audit Risk ModelAuditRiskModelProceduresto obtain anunderstanding ofinternal controlTests ofcontrols(TOC)Substantivetests oftransactions(STOT)Typesof AuditTests+AARIR CR=PDR10-52003 Prentice

4、Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyTypes of Audit Tests andthe Audit Risk ModelAnalyticalprocedures(AP)Tests ofdetails ofbalances(TDP)Sufficientcompetentevidenceper GASS+=AARIR CR=PDRAuditRiskModelTypesof AuditTests10-62003 Prentice Hall Business Publishing,Essent

5、ials of Auditing 1/e,Arens/Elder/BeasleyRole of all Audit Tests in the Sales and Collection CycleSalesAccountsReceivableCash inBankSalestransactionsCash receiptstransactionsEndingbalanceEndingbalanceTOC+STOT+AP+TDP=Sufficient competent evidence per GAASAudited byTOC,STOT,and APAudited by AP and TDPA

6、udited byTOC,STOT,and AP10-72003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyLearning Objective 2Select the appropriatetypes of audit tests.10-82003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyRelationship BetweenTypes of Tests

7、and EvidenceType of TestProcedures for internal controlTests of controlsSubstantive tests of transactionsAnalytical proceduresTests of details of balancesPhysicalExaminationConfirmationDocumentationObservation Type ofEvidence10-92003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens

8、/Elder/BeasleyRelationship BetweenTypes of Tests and EvidenceType of TestProcedures for internal controlTests of controlsSubstantive tests of transactionsAnalytical proceduresTests of details of balancesInquiries ofthe clientReperformanceAnalyticperformance Type ofEvidence10-102003 Prentice Hall Bus

9、iness Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyAudit Assurance at Different Levels of Internal Control EffectivenessAcceptableassuranceNoassuranceINTERNAL CONTROL EFFECTIVENESSWeak controlStrong controlReliance on controls:C3 None,C2 Some,C1 MaximumAudit assurancefrom control riskass

10、essment andtests of controlAuditassurancefromsubstantivetestsACBC3C2C1AUDIT ASSURANCE10-112003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyLearning Objective 3Understand how informationtechnology affects audit testing.10-122003 Prentice Hall Business Publishing,Es

11、sentials of Auditing 1/e,Arens/Elder/BeasleyImpact of Information Technology on Audit Testing10-132003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyImpact of Information Technology on Audit TestingComputer assisted audit techniques may beused to test automated cont

12、rols or data.Reports produced by IT may be used to testthe effectiveness of IT general controls.Program changecontrolsAccesscontrols10-142003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyLearning Objective 4Understand the concept of evidencemix and how it should be

13、 variedin different circumstances.10-152003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyVariations in Evidence MixProcedures to Obtainan Understandingof Internal ControlTestsofControlsAudit 1EEAudit 2MMAudit 3MNAudit 4MMAmount of testing:Extensive,Medium,Small,Non

14、e10-162003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyVariations in Evidence MixSubstantiveTests ofTransactionsAnalyticalProceduresTests ofDetails ofBalancesAudit 1S ESAudit 2M EMAudit 3E MEAudit 4E EEAmount of testing:Extensive,Medium,Small,None10-172003 Prentic

15、e Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyLearning Objective 5Design an audit program.10-182003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyAudit ProgramPart 1:Tests of controls and substantivetests of transactionsPart 2:Analytical p

16、roceduresPart 3:Tests of details and balances10-192003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyAudit Procedures1.Apply the transaction-related audit objectivesto the class of transactions being tested.2.Identify key controls that should reducecontrol risk for

17、each audit objective.3.Develop appropriate tests of controls.4.Design substantive tests of transactions.10-202003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyFour-Step Approach to Designing Control and Substantive TestsApply transaction-related audit objectivesto

18、a class of transactions(Step 1).Identify key controlsand make an assessmentof control risk(Step 2).Design tests ofcontrols(Step 3).Design substantive testsof transactions(Step 4).Audit procedures Sample size Items to selectTiming10-212003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,

19、Arens/Elder/BeasleyMethodology for Designing Tests ofBalances Accounts ReceivableIdentify client business risksaffecting accounts receivable.Set tolerable misstatementand assess inherent riskfor accounts receivable.Assess control risk for salesand collection cycle.10-222003 Prentice Hall Business Pu

20、blishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyMethodology for Designing Tests ofBalances Accounts ReceivableDesign and perform tests ofcontrols and substantive testsof transactions for sales andcollection cycle.Design and perform analyticalprocedures for accountsreceivable balance.10-232003

21、 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyMethodology for Designing Tests ofBalances Accounts ReceivableDesign tests of details ofaccounts receivable balanceto satisfy balance-relatedaudit objectives.Audit proceduresSample sizeItems to selectTiming10-242003 Pre

22、ntice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyApproach to Designing Tests of Details of BalancesApply transaction-related auditobjectives to a classof transactions.Identify key controlsand make a preliminaryassessmentof control risk.Design tests ofcontrols.Design subst

23、antive testsof transactions.Audit procedures Sample size Items to selectTiming10-252003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyApproach to Designing Tests of Details of BalancesDesign testsof controls.Designsubstantivetests oftransactions.Apply balance-relate

24、d auditobjectives to an account balance.Audit proceduresSample sizeItems to selectTimingDesign tests of details of balances.10-262003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyApproach to Designing Tests of Details of BalancesApply balance-related auditobjective

25、s to anaccount balance.Design testsof details ofbalances.Decide tolerablemisstatement.Make preliminaryjudgment aboutmateriality.Design analyticalprocedures.Decide acceptableaudit risk.Assess inherent risk.Assess clientbusiness risk.10-272003 Prentice Hall Business Publishing,Essentials of Auditing 1

26、/e,Arens/Elder/BeasleyLearning Objective 6Compare and contrasttransaction-related auditobjectives and balance-related audit objectives.10-282003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyRelationship of Transaction-toBalance-Related Audit ObjectivesTransaction-R

27、elated Balance-RelatedNature ofAudit Objective Audit Objective RelationshipExistenceExistence orDirectcompletenessCompletenessCompleteness orDirectexistenceAccuracyAccuracyDirect10-292003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyRelationship of Transaction-toBa

28、lance-Related Audit ObjectivesTransaction-Related Balance-RelatedNature ofAudit Objective Audit Objective RelationshipClassificationClassification DirectTimingCutoffDirectPosting andDetail tie-inDirectsummarization10-302003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/Bea

29、sleyRelationship of Transaction-toBalance-Related Audit ObjectivesTransaction-Related Balance-RelatedNature ofAudit Objective Audit Objective RelationshipRealizable valueNoneRights andNoneobligationsPresentation andNonedisclosure10-312003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,

30、Arens/Elder/BeasleyLearning Objective 7Integrate the four phasesof the audit process.10-322003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleySummary of theAudit ProcessPhase IPlan and designan audit approach.Phase IIPerform tests ofcontrols andsubstantive testsof tr

31、ansactions.Phase IIIPerform analyticalprocedures andtests of detailsof balances.Phase IVComplete theaudit and issuean audit report.10-332003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleySummary of the Audit ProcessPhase IAccept client and perform initial planning.U

32、nderstand the clients business and industry.Assess clients business risk.Perform preliminary analytical procedures.Set materiality and assess acceptableaudit risk and inherent risk.Understand internal control and assess control risk.Develop overall audit plan and audit program.10-342003 Prentice Hal

33、l Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleySummary of the Audit ProcessPhase IIAssess likelihood of misstatementsin financial statements.Plan to reduce assessedlevel of control risk?Perform tests of controls.YesPerform substantive tests of transactions.No10-352003 Prentice H

34、all Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleySummary of the Audit ProcessPhase IIIPerform tests of key items.Perform additional tests of details of balances.Perform analytical procedures.LowMediumHigh orunknown10-362003 Prentice Hall Business Publishing,Essentials of Auditin

35、g 1/e,Arens/Elder/BeasleySummary of the Audit ProcessPhase IVReview for contingent liabilities.Review for subsequent events.Accumulate final evidence.Evaluate results.Issue audit report.Communicate with auditcommittee and management.10-372003 Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/BeasleyEnd of Chapter 10