auditplanningandanalyticalprocedures(英文版)(ppt57頁(yè))-wenkub
2023-04-17 10:16:12 本頁(yè)面
【正文】 dures Uses ? Cornerstone of error detection ? Required in the planning stage and at final review. ? Optional for evidence gathering stage. ? Discovers errors because most financial data has some relationship to other data and the review will detect unusual occurrences. 8 34 The patterns for overstatements and understatements ? Liabilities and expenses are areas for understatement ? Assets and revenues are areas for overstatement ? Audits should be planned to take these patterns into consideration 8 35 Timing and Purpose of Analytical Procedures (Required) Planning Phase Purpose Understand client’s industry and business Assess going concern Indicate possible misstatements (attention directing) Reduce detailed tests Primary purpose Secondary purpose Primary purpose Secondary purpose 8 36 Timing and Purpose of Analytical Procedures Testing Phase Purpose Understand client’s industry and business Assess going concern Indicate possible misstatements (attention directing) Reduce detailed tests Secondary purpose Primary purpose 8 37 Timing and Purpose of Analytical Procedures (Required) Completion Phase Purpose Understand client’s industry and business Access going concern Indicate possible misstatements (attention directing) Reduce detailed tests Secondary purpose Primary purpose 8 38 Five Major Types of Analytical Procedures 1. Compare client and industry data. 2. Compare client data with similar priorperiod data. 3. Compare client data with clientdetermined expected results. 4. Compare client data with auditordetermined expected results. 5. Compare client data with expected results, using nonfinancial data. 8 39 Compare Client and Industry Data Client Industry 2023 2023 2023 2023 Inventory turnover Gross margin percent % % % % 8 40 Compare Client Data With Similar Priorperiod Data 2023 2023 (000,000) % of (000,000) % of Preliminary Net Sales Audited Net Sales Net sales 143 100 131 100 Cost of goods sold 103 72 95 72 Gross profit 40 28 36 28 S A 32 22 30 23 Other 4 3 3 3 Net ine 4 3 3 2 8 41 Common Financial Ratios Shortterm debtpaying ability Liquidity activity ratios Ability to meet longterm debt obligations Profitability ratios 8 42 Shortterm Debtpaying Ability Cash ratio: (Cash + Marketable securities) 247。s business includes: ? Economic environment the business operates in. ? Effect of national economic policies deregulation. ? The geographic location and its economy. ? Tax and regulatory developments. ? Industry characteristics. ? Significant puter applications involving the account
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