【正文】 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 1 Audit Responsibilities and Objectives Chapter 6 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 2 Learning Objective 1 Explain the objective of conducting an audit of financial statements and an audit of internal controls. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 3 Objective of Conducting an Audit of Financial Statements The objective of the ordinary audit of financial statements is the expression of an opinion of the fairness with which they present fairly, in all respects, financial position, result of operations, and its cash flows in conformity with GAAP. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 4 Steps to Develop Audit Objectives 1. Understand objectives and responsibilities for the audit. 2. Divide financial statements into cycles. 3. Know management assertions about accounts. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 5 Steps to Develop Audit Objectives 4. Know general audit objectives for classes of transactions and accounts. 5. Know specific audit objectives for classes of transactions and accounts. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 6 Learning Objective 2 Distinguish management’s responsibility for the financial statements and internal control from the auditor’s responsibility for verifying the financial statements and effectiveness of internal control. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 7 Management’s Responsibilities Management is responsible for the financial statements and for internal control. The SarbanesOxley Act increases management’s responsibility for the financial statements. It requires the CEO and the CFO of public panies to certify the quarterly and annual financial statements submitted to the SEC. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 8 Management’s Responsibilities The SarbanesOxley Act provides for criminal penalties for anyone who knowingly falsely certifies the statements. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 9 Learning Objective 3 Explain the auditor’s responsibility for discovering material misstatements. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 10 Auditor’s Responsibilities ? Material versus immaterial misstatements ? Reasonable assurance ? Errors versus fraud ? Professional skepticism ? Fraud resulting from fraudulent financial reporting versus misappropriation of assets 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 11 Auditor’s Responsibilities for Discovering Illegal Acts ? Directeffect illegal acts ? Indirecteffect illegal acts ? Evidence accumulation when there is no reason to believe indirecteffect