Chapter13OverallAuditPlanandAuditProgram(审计rbd.pptx

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1、13-12006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderOverall Audit Planand Audit ProgramChapter 1313-22006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 1

2、1/e,Arens/Beasley/Elder Arens/Beasley/ElderLearning Objective 1Use the five types of audit teststo determine whether financialstatements are fairly stated.13-32006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/E

3、lderTypes of TestsProcedures to obtain an understandingProcedures to obtain an understandingof internal controlof internal controlTests of controlTests of controlSubstantive tests of transactionsSubstantive tests of transactionsAnalytical proceduresAnalytical proceduresTests of details of balancesTe

4、sts of details of balances13-42006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderTypes of Audit Tests andthe Audit Risk ModelAudit riskAudit riskmodelmodelTypes ofTypes ofauditauditteststestsProceduresProce

5、duresto obtain anto obtain anunderstandingunderstandingof internal controlof internal controlTests ofTests ofcontrolscontrols(TOC)(TOC)SubstantiveSubstantivetests oftests oftransactionstransactions(STOC)(STOC)+AAR AARIR CRIR CR=PDR=PDR13-52006 Prentice Hall Business Publishing,2006 Prentice Hall Bus

6、iness Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderTypes of Audit Tests andthe Audit Risk ModelAudit riskAudit riskmodelmodelTypes ofTypes ofauditauditteststestsAnalyticalAnalyticalproceduresprocedures(AP)(AP)Tests ofTests ofdetails ofdetails ofbalancesbalances(TDP)(

7、TDP)SufficientSufficientcompetentcompetentevidenceevidenceper GASSper GASS+=AAR AARIR CRIR CR=PDR=PDR13-62006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderRole of all Audit Tests in the Sales and Collectio

8、n CycleSalesSalesAccountsAccountsReceivableReceivableCash inCash inBankBankSalesSalestransactionstransactionsCash receiptsCash receiptstransactionstransactionsEndingEndingbalancebalanceEndingEndingbalancebalanceTOCTOC+STOTSTOT+APAP+TDBTDB=Sufficient competent evidence per GAAS=Sufficient competent e

9、vidence per GAASAudited byAudited byTOCTOC,STOTSTOT,and,and APAPAudited by Audited by APAP and and TDBTDBAudited byAudited byTOCTOC,STOTSTOT,and,and APAP13-72006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/Eld

10、erLearning Objective 2Select the appropriate typesof audit tests.13-82006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderRelationship Between Types of Tests and EvidenceType of TestType of TestProcedures for

11、 internal controlProcedures for internal controlTests of controlsTests of controlsSubstantive tests of transactionsSubstantive tests of transactionsAnalytical proceduresAnalytical proceduresTests of details of balancesTests of details of balancesPhysicalPhysicalexaminationexaminationConfirmationConf

12、irmationDocumentationDocumentationObservationObservation Type of EvidenceType of Evidence13-92006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderRelationship Between Types of Tests and EvidenceType of TestTy

13、pe of TestProcedures for internal controlProcedures for internal controlTests of controlsTests of controlsSubstantive tests of transactionsSubstantive tests of transactionsAnalytical proceduresAnalytical proceduresTests of details of balancesTests of details of balancesInquiries ofInquiries ofthe cl

14、ientthe clientReperformanceReperformanceAnalyticAnalyticperformanceperformance Type of EvidenceType of Evidence13-102006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderAudit Assurance at Different Levels of

15、Internal Control EffectivenessAcceptableAcceptableassuranceassuranceNoNoassuranceassuranceINTERNAL CONTROL EFFECTIVENESSINTERNAL CONTROL EFFECTIVENESSWeak controlWeak controlStrong controlStrong controlReliance on controls:CReliance on controls:C3 3 None,C None,C2 2 Some,C Some,C1 1 Maximum MaximumA

16、udit assuranceAudit assurancefrom control riskfrom control riskassessment andassessment andtests of controltests of controlAudit assuranceAudit assurancefrom substantivefrom substantiveteststestsA AC CB BC C3 3C C2 2C C1 1AUDIT ASSURANCEAUDIT ASSURANCE13-112006 Prentice Hall Business Publishing,2006

17、 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderLearning Objective 3Understand how informationtechnology affects audit testing.13-122006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Be

18、asley/Elder Arens/Beasley/ElderImpact of Information Technology on Audit TestingSAS 80(AU 326)and SAS 94(AU 319)SAS 80(AU 326)and SAS 94(AU 319)provide guidance for auditors of entitiesprovide guidance for auditors of entitiesthat transmit,process,maintain,or accessthat transmit,process,maintain,or

19、accesssignificant information electronically.significant information electronically.13-132006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderImpact of Information Technology on Audit TestingComputer assisted

20、 audit techniques may beComputer assisted audit techniques may beused to test automated controls or data.used to test automated controls or data.Reports produced by IT may be used to testReports produced by IT may be used to testthe effectiveness of IT general controls.the effectiveness of IT genera

21、l controls.Program change controlsProgram change controlsAccess controlsAccess controls13-142006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderLearning Objective 4Understand the concept ofevidence mix and h

22、ow itshould be varied indifferent circumstances.13-152006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderVariations in Evidence MixProcedures to obtainProcedures to obtainan understandingan understandingof i

23、nternal controlof internal controlTestsTestsof controlsof controlsAudit 1Audit 1E EE EAudit 2Audit 2MMMMAudit 3Audit 3MMN NAudit 4Audit 4MMMMAmount of testing:Amount of testing:E Extensive,xtensive,MMedium,edium,S Small,mall,N Noneone13-162006 Prentice Hall Business Publishing,2006 Prentice Hall Bus

24、iness Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderVariations in Evidence MixSubstantiveSubstantivetests oftests oftransactionstransactionsAnalyticalAnalyticalproceduresproceduresTests ofTests ofdetails ofdetails ofbalancesbalancesAudit 1Audit 1S S E ES SAudit 2Audit

25、 2MM E EMMAudit 3Audit 3E E M ME EAudit 4Audit 4E E E EE EAmount of testing:Amount of testing:E Extensive,xtensive,MMedium,edium,S Small,mall,N Noneone13-172006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/Elde

26、rLearning Objective 5Design an audit program.13-182006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderAudit ProgramPart 1:Part 1:Tests of controls and substantiveTests of controls and substantivetests of tra

27、nsactionstests of transactionsPart 2:Part 2:Analytical proceduresAnalytical proceduresPart 3:Part 3:Tests of details and balancesTests of details and balances13-192006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasl

28、ey/ElderTests of Controls and Substantive Tests of Transactions1.Apply the transaction-related audit objectivesApply the transaction-related audit objectivesto the class of transactions being tested.to the class of transactions being tested.2.Identify key controls that should reduce2.Identify key co

29、ntrols that should reducecontrol risk for each audit objective.control risk for each audit objective.3.Develop appropriate tests of controls.3.Develop appropriate tests of controls.4.Design substantive tests of transactions.4.Design substantive tests of transactions.13-202006 Prentice Hall Business

30、Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderMethodology for Designing Controls and Substantive TestsPerform procedures toPerform procedures tounderstand internalunderstand internalcontrol.control.Audit proceduresAudit procedure

31、sSample sizeSample sizeItems to selectItems to selectTimingTimingAssess control risk.Assess control risk.Determine extent ofDetermine extent oftesting controls.testing controls.Design tests of controlsDesign tests of controlsand substantive testsand substantive testsof transactions to meetof transac

32、tions to meettransaction-relatedtransaction-relatedaudit objectives.audit objectives.13-212006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderFour-Step Approach to Designing Control and Substantive TestsAppl

33、y transaction-relatedApply transaction-relatedaudit objectives to a classaudit objectives to a classof transactions.(Step 1)of transactions.(Step 1)Audit proceduresAudit proceduresSample sizeSample sizeItems to selectItems to selectTimingTimingAudit proceduresAudit proceduresSample sizeSample sizeIt

34、ems to selectItems to selectTimingTimingIdentify key controls andIdentify key controls andmake a preliminarymake a preliminaryassessment of control risk.assessment of control risk.(Step 2)(Step 2)Design tests of controls.Design tests of controls.(Step 3)(Step 3)Design substantive tests ofDesign subs

35、tantive tests oftransactions.(Step 4)transactions.(Step 4)13-222006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderMethodology for Designing Tests of Balances Accounts ReceivableIdentify clientIdentify clien

36、tbusiness risksbusiness risksaffecting accountsaffecting accountsreceivable.receivable.Set tolerableSet tolerablemisstatement andmisstatement andassess inherent riskassess inherent riskfor accounts receivable.for accounts receivable.Assess controlAssess controlrisk for salesrisk for salesand collect

37、ionand collectioncycle.cycle.Design and performDesign and performanalytical proceduresanalytical proceduresfor accountsfor accountsreceivable balance.receivable balance.Design and perform testsDesign and perform testsof controls and substantiveof controls and substantivetests of transactions fortest

38、s of transactions forsales and collection cycle.sales and collection cycle.Audit proceduresAudit proceduresSample sizeSample sizeItems to selectItems to selectTimingTimingDesign tests of details ofDesign tests of details ofaccounts receivable balanceaccounts receivable balanceto satisfy balance-rela

39、tedto satisfy balance-relatedaudit objectives.audit objectives.13-232006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderApproach to Designing Tests of Details of BalancesApply transaction-relatedApply transa

40、ction-relatedaudit objectives to a classaudit objectives to a classof transactions.of transactions.Audit proceduresAudit proceduresSample sizeSample sizeItems to selectItems to selectTimingTimingIdentify key controlsIdentify key controlsand make an assessmentand make an assessmentof control risk.of

41、control risk.Audit proceduresAudit proceduresSample sizeSample sizeItems to selectItems to selectTimingTimingDesign tests of controls.Design tests of controls.Design substantive testsDesign substantive testsof transactions.of transactions.13-242006 Prentice Hall Business Publishing,2006 Prentice Hal

42、l Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderApproach to Designing Tests of Details of BalancesApply balance-Apply balance-related auditrelated auditobjectives to anobjectives to anaccount balance.account balance.Design testsDesign testsof details ofof det

43、ails ofbalances.balances.Decide tolerableDecide tolerablemisstatement.misstatement.Make preliminaryMake preliminaryjudgment aboutjudgment aboutmateriality.materiality.Design analyticalDesign analyticalprocedures.procedures.Decide acceptableDecide acceptableaudit risk.audit risk.Assess inherent risk.

44、Assess inherent risk.Assess clientAssess clientbusiness risk.business risk.13-252006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderLearning Objective 6Compare and contrasttransaction-related auditobjectives

45、 and balance-relatedaudit objectives.13-262006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderRelationship Among Five Key Evidence-Related TermsPhases of the audit processPhases of the audit processAudit obj

46、ectivesAudit objectivesTypes of testsTypes of testsEvidence decisionsEvidence decisionsTypes of evidenceTypes of evidence13-272006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderPhases of the Audit Process1.

47、Plan and design an audit approach.Plan and design an audit approach.2.Perform tests of controls and substantive2.Perform tests of controls and substantive tests of transactions.tests of transactions.3.Perform analytical procedures and tests3.Perform analytical procedures and tests of details of bala

48、nces.of details of balances.4.Complete the audit and issue an audit report.4.Complete the audit and issue an audit report.13-282006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing,Auditing 11/e,Auditing 11/e,Arens/Beasley/Elder Arens/Beasley/ElderAudit ObjectivesTransaction-

49、relatedTransaction-related1.Existence1.Existence2.Completeness2.Completeness3.Accuracy3.Accuracy4.Classification4.Classification5.Timing5.Timing6.Posting and6.Posting and summarization summarizationBalance-relatedBalance-related1.Existence1.Existence2.Completeness2.Completeness3.Accuracy3.Accuracy4.

50、Classification4.Classification5.Cutoff5.Cutoff6.Detail tie-in6.Detail tie-in7.Realizable value7.Realizable value8.Rights and obligations8.Rights and obligations9.Presentation and9.Presentation and disclosure disclosure13-292006 Prentice Hall Business Publishing,2006 Prentice Hall Business Publishing