【正文】 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 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 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 18 Learning Objective 5 Describe why the auditor obtains a bination of assurance by auditing classes of transactions and ending balances in accounts, including presentation and disclosure. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 26 Management Assertions and Transactionrelated Audit Objectives Management Assertions About Classes of Transactions and Events General Transaction related Audit Objectives Specific Sales Transaction related Audit Objectives Occurrence Occurrence Recorded sales are for shipments made to nonfictitious customers Completeness Completeness Existing sales transactions are recorded Accuracy Accuracy Recorded sales are for the amount of goods shipped and are correctly billed and recorded Hillsburg Hardware Company: As Applied to Sales Transactions 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 34 Management Assertions and Transactionrelated Audit Objectives Management Assertions About Account Balances General Balance related Audit Objectives Valuation and allocation Classification Cutoff Inventory items are properly classified as to raw materials, work in process, and finished goods Purchase cutoff at year end is proper Sales cutoff at year end is proper Hillsburg Hardware Company: As Applied to Inventory Specific Balancerelated Audit Objectives Applied to Inventory 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 42 End of Chapter 6 。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 36 Learning Objective 9 Link the four presentation and disclosurerelated audit objectives to management assertions for presentation and disclosure. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 28 Learning Objective 8 Link the eight general balance related audit objectives to management assertions for account balances. 169。2021 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 6 20 Learning Objective 6 Distinguish among the three categories of management assertions about financial